Written question asked by Lord Bruce of Bennachie (Liberal Democrat) on Thursday, 11 November 2004, in the House of Commons. It was due for an answer on Thursday, 18 November 2004. It was answered by Douglas Alexander (Labour) on Thursday, 18 November 2004 on behalf of the Department of Trade and Industry.

Dept of Trade and Industry

Question: To ask the Secretary of State for Trade and Industry, what assessment she has made of the impact of the revised anti-corruption procedures announced by the Export Credits Guarantee Department on 8th November on its capacity to combat bribery and corruption; and what the purpose of the revised procedure is. - (Holding answer 17 November 2004).

Answer: Malcolm Bruce: To ask the Secretary of State for Trade and Industry what assessment she has made of the impact of the revised anti-corruption procedures announced by the Export Credits Guarantee Department on 8 November on its capacity to combat bribery and corruption; and what the purpose of the revised procedure is. [198325] Mr. Alexander: [holding answer 17 November 2004]: ECGD has undertaken a detailed confidential comparison of its revised anti-bribery and corruption procedures with G7 counterparts. These confirm that the procedures announced by ECGD on 8 November are among the most rigorous and effective in use by any of the world's leading Export Credit Agencies. The revised procedures are designed to: Deter illegal payments, corrupt practices and money laundering by applicants for ECGD's support; Ensure, as far as is practicable, that all transactions that ECGD supports are in compliance with all applicable laws, regulations and international agreements to which .the UK is a party; and In the event that wrongdoing arises, protect the UK taxpayer's financial interests.

Secondary information

Type: Written question
Reference: 198325; 426 c1922W;426 c1927W
Session: 2003-04
Subjects: Crime prevention Corruption Export credit guarantees UK Export Finance
Link: View this Written question on www.publications.parliament.uk