An article in the June 1961 issue of this Bulletin outlined a number of developments which had taken place in the field of export financing and export credit insurance during the preceding months. The two main developments described were:
1. The scheme under which the Bank of England stand ready to re-finance that part of the finance provided by participating banks, in respect of export credit for periods in excess of three years and covered by an appropriate guarantee of the Export Credits Guarantee Department, which is due to be repaid by the buyer within eighteen months of the date of the re-financing.
2. The issue by E.C.G.D. of financial guarantees for very large capital projects and for ocean-going ships, where there is justification for extending to buyers credit beyond the term of five years from delivery normally covered by E.C.G.D.
Published on
01 March 1962
Finance for exports