Resources: International financial Institutions, Export Credit Agencies

Lawyers acting for The Corner House and Indian group Samata requested a Judicial Review of the decision by the UK's Export Credits Guarantee Department (ECGD) effectively scrapping its absolute ban on providing financial support to projects overseas involving "harmful" child labour and forced labour. ECGD stated in response that it does not have to consider whether its support contributes to human rights abuse, because it "does not owe obligations to persons outside the jurisdiction of the UK".

In March 2010, The Corner House and Campaign Against Arms Trade (CAAT) submitted a complaint to the European Commission alleging that the UK gives unlawful state aid to GEFCO, a special purpose vehicle used by the UK's export credit agency, the Export Credits Guarantee Department (ECGD), to refinance its loss-making interest-rate support scheme provided to UK exporters. After much correspondence, it emerged in March 2011 that the complaint should have been directed at the companies receiving the support rather than at GEFCO itself and should have cited a different clause in the WTO's Agreement on Subsidies and Countervailing Measures. The groups will submit a new complaint on this basis.

BBC2 Television's Newsnight current affairs programme summarised its 8 minute broadcast: "In 2006, the British government scotched a serious fraud investigation into BAE's biggest deal, with Saudi Arabia. Now, Peter Marshall [Newsnight presenter] reveals that the company may have returned the favour. It has stopped a billion pound insurance contract which tied the government to the Saudi business." Information about stopping the insurance contract came to light as a result of legal correspondence between The Corner House and Campaign Against Arms Trade with the UK Export Credits Guarantee Department.

This exchange of letters between the UK's export credit agency and lawyers acting for The Corner House and Campaign Against Arms Trade revealed that BAE Systems had cancelled all its public insurance for its arms sales to Saudi Arabia with effect from 1 September 2008. These sales have been underwritten by the agency for more than two decades and accounted for half its portfolio.

This Corner House submission to a 2008 inquiry by the Environmental Audit Committee into the UK's Export Credits Guarantee Department and Sustainable Development critiqued the ECGD's decision-making procedures concerning sustainable development; its inadequate Business Principles and need for a proactive approach; its due diligence and monitoring; information disclosure; and the OECD and ECA reform.

WWF-UK's 'witness statement' (as part of its joint claim for a judicial review of the UK Export Credits Guarantee Department's decision in March 2004 to support the Sakhalin II oil-and-gas project off the far eastern coast of Russia) describes the project; outlines concerns about its impacts on the Western Gray Whale, fisheries, local communities, and climate change; summarises the flawed process of the Environmental Impact Assessment; and details how WWF-UK eventually learnt about the ECGD's decision to support Sakhalin II by means of a Freedom of Information request.

On 15 August 2007, WWF and The Corner House filed for a judicial review of a legally-binding, but until recently undisclosed, decision in March 2004 by the UK Government's Export Credits Guarantee Department (ECGD) to support the Sakhalin II oil-and-gas project off the far eastern coast of Russia.

In 2007, the UK's export credit agency, ECGD, released documents indicating that it had classified a nuclear power plant in South Korea (for which it gave support in 2005) as having "low potential impacts"; this classification meant that the project did not require ECGD to carry out a more detailed impact assessment before giving support.

This Bloomberg Markets article describes the allegations by BP consultant Derek Mortimore that the engineering company contracted to monitor the BTC oil pipeline has no experience in pipeline corrosion work.

Any ECGD support for the Anglo-Dutch petrochemical multinational Shell to develop two oil and gas fields off Sakhalin Island in Russia's Far East would breach international guidelines and conflict with the UK's sustainable development commitments and its international environmental obligations.

ECGD released some information related to the coating on the BTC oil pipeline in response to a Corner House information request. 

Northern governments may grant more export credits for large dams by classifying them as "renewable energy". This report details the negative impacts of five large dams and one water privatisation scheme financed with export credits.

This submission to the EU Council Working Group on Trade details how the OECD Action Statement on Combating Bribery in Officially Supported Export Credits should be strengthened and how European Export Credit Agencies should improve their anti-bribery procedures. It was prepared for a special meeting held between the EU Council Working Group on Export Credits and NGOs on 22 June 2005.

At the beginning of 2005, the UK Parliament's Trade and Industry Select Committee conducted an inquiry into the UK's Export Credits Guarantee Department (ECGD). During its inquiry, it interviewed the Government Minister responsible for the ECGD about the Department's watering down of its anti-bribery procedures following industry lobbying. In March 2005, the Committee published a report, Implementation of ECGD's Business Principles, that was highly critical of the changes the Department had made to its procedures. This document is The Corner House's submission to the Committee's inquiry.

In December 2004, The Corner House instituted legal proceedings against the UK's Secretary of State for Trade and Industry as the government minister responsible for the Export Credits Guarantee Department.

The taxpayer-backed export credit agencies of industrialised countries are underwriting the bribery and corruption of large, mainly Western, companies operating abroad.

This submission from The Corner House documents in detail how the ECGD’s policies and practices fall far short of compliance with the Government’s sustainable development commitments. It makes several recommendations to address the ECGD’s institutional and procedural failures, and to bring the Department in line with the Government’s sustainable development policies and objectives.

In 2001, governments agreed that export credit agencies should support the transfer of climate-friendly technologies. Urgent institutional reform is needed if Britain is to fulfil its commitment, argues this presentation at an NGO Seminar on Export Credit Reform held in the House of Commons, London.

Export Credit Agencies have created unsustainable debt in developing countries. Despite reforms, arms sales and other ECA-backed deals continue build up debt without contributing to development.

The UK government's Export Credits Guarantees Department (ECGD) supports British exporters. Using public money to support private businesses is only justified if it has a demonstrable public purpose.

Protecting workers' rights is central to alleviating poverty. The UK Export Credits Guarantee Department (ECGD) should require all applicants to have policies for achieving core labour standards.

The UK Export Credits Guarantee Department (ECGD) has a long record of backing corrupt projects. New vetting procedures have loopholes, leaving the ECGD open to charges of complicity in corruption, contends this presentation at an NGO Seminar on Export Credit Reform held in the House of Commons, London.

Unless Export Credit Agencies (ECAs) can demonstrate a public purpose, ensured through mandatory sustainable development standards, the subsidies they provide have no legitimacy.

In July 1999, the UK Secretary of State for Trade and Industry announced a Review of the mission and status of the UK Export Credits Guarantees Department (ECGD). This Memorandum, signed by 35 UK NGOs and parliamentarians, sets out proposals to reform the ECGD so as to bring it in line with the stated policies of the UK government on sustainable development, human rights, open government and putting ethics “at the centre” of foreign policy.