Parliamentary Search

Written question asked by Lord Dodds of Duncairn (Democratic Unionist Party) on Monday, 17 December 2012, in the House of Commons. It was due for an answer on Wednesday, 19 December 2012. It was answered by Michael Fallon (Conservative) on Tuesday, 8 January 2013 on behalf of the Department for Business, Innovation and Skills.

Export Credit Guarantees: Grenada

Question

To ask the Secretary of State for Business, Innovation and Skills how much of the debt owed by Grenada to UK Export Finance relates to airport projects; when such loans were made; and to which bodies they were made.

[134580]

Answer

In November 2012, UK Export Finance, formally the Export Credits Guarantee Department (ECGD), published information, available in the Libraries of the House, about sovereign debts due to ECGD. Paragraph 10 of the explanatory note sets out that, due to the age and incomplete nature of some of the records, judgement has to be made in some instances as to the precise nature of the goods and services.

I refer the hon. Member to the answer I am giving to parliamentary question 134579 today for the amount of Grenada's debt outstanding as at end November 2012. This debt has been rescheduled at the Paris Club and it is not possible to disaggregate the value of the current outstanding debt between the original contracts. However, the original debt of £891,255 (61% in terms of value) attributable to airport projects related to an airport project that was guaranteed by ECGD in 1982. The buyer was the Ministry of Finance, Government of Grenada.

Secondary information

Type
Written question
Reference
134580; 556 c187W
Session
2012-13
Subjects
Airports Export credit guarantees Grenada
Contains statistics
Yes
Link
View this Written question on www.publications.parliament.uk