Don Foster MP

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Don Foster signs EDM 622 - Export Credit Guarantees Department

In November, Don signed EDM 622 stating:

That this House believes that the Export Credits Guarantee Department (ECGD) should take account of factors beyond the purely financial when deciding on the merits of export credits; is concerned that some cases are now exempt from environmental, human rights and social impact assessment and that, in practice, the absolute ban on child and forced labour has been removed; expresses regret that many developing countries are still paying off large debts for projects that were of no benefit to recipients or which fostered corruption; recognises that the ECGD could stimulate the positive export of green and pro-poor technologies and services; and urges the Government to conduct a thorough review of the ECGD, audit all outstanding ECGD debts, support the adoption and enforcement of stronger impact standards and to prevent the ECGD supporting projects that do not add value to recipient countries or contribute to poverty reduction or social and human development.