New Bank Joins Letter Of Credit Scheme

The Bank of London and the Middle East (BLME) has become the first new UK-based bank to participate in ECGD's letter of credit guaranrtee scheme (LGS).

BLME is an independent Sharia'a-compliant UK bank and the largest Islamic bank in Europe. Based in London since its establishment in August 2006, it operates primarily in Europe, the USA, Asia and the Middle East and North Africa, offering private and corporate banking, asset management and corporate advisory services.

ECGD Chief Executive Patrick Crawford said:

"I am delighted that BLME has joined LCGS. We at ECGD look forward to doing business with them in the near future

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ECGD publishes review of anti-bribery procedures

ECGD today published a review of its anti-bribery and corruption procedures. ECGD introduced revised procedures on 1 July 2006 following a public consultation. In its Fifth Report of the 2005-06 session, published on 25 July 2006, the then Trade and Industry Committee (TIC) commented on the new procedures, and made a number of recommendations. The Government’s response to the TIC report’s recommendations was published on 27 October 2006. In that response, the Government gave an undertaking to review the revised anti-bribery and corruption procedures in three years. This review fulfils that commitment.

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We have taken down our speeches in line with guidance on the machinery of government change. Please visit the UK government web archive for past speeches - http://webarchive.nationalarchives.gov.uk/20100401161837/http://www.ecgd.gov.uk/.

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ECGD at Brazil Energy Conference

ECGD was pleased to participate in the recent UKTI Brazil Energy Conference in London attended by senior business delegates from Petrobras, other Brazilian companies and a large number of UK companies active in the energy sector.

John Snowdon, ECGD’s Head of Civil & Defence Business led a workshop on Financing Arrangements with the support of Ali Sherwani, ECGD’s Head of Business Development, and Tim Palmer, a key member of the ECGD underwriting team developing a US$750 million line of credit to finance UK supplies for Petrobras’ huge offshore oil and gas investment programme. John, Ali and Tim were available throughout the day to answer questions about how ECGD can support UK businesses hoping to do business with Petrobras and other companies in Brazil.

Following this event ECGD is particularly keen to make contact with as many UK exporters as possible interested in the prospective Petrobras line of credit.

ECGD contacts are:

David Craig: 020 7512 7734 ( help@ecgd.gsi.gov.uk)

Tim Palmer: 020 7512 7024 ( help@ecgd.gsi.gov.uk

Bill Joscelyne: 020 7512 7573 ( help@ecgd.gsi.gov.uk)

UKTI contacts are:

Craig Jones: 0141-228 3645 ( enquiries@uktradeinvest.gov.uk)

Jim Feeney: 0141-228 3690 ( enquiries@uktradeinvest.gov.uk)

Steve Graham: +55 21 2555 9612 ( uktibrazil@fco.gov.uk)

Chris Whorton: +55 21 2555 9684 ( uktibrazil@fco.gov.uk)