A UK government department that operates under the Export and Investment Guarantees Act 1991. It encourages exports from the UK by making export credit insurance available to exporters and guaranteeing repayment to UK banks that provide finance for exports on credit terms of two years or more. It also insures British private investment overseas against war risk, expropriation, and restrictions on the making of remittances. Some sections of the ECGD were privatized in 1991, including short-term credit insurance.
Subjects: Financial Institutions and Services.