Media release November 8th, 2000

Export credit scheme welcomed

Government's long awaited export credit scheme replaces the vacuum that previously existed says the Employers & Manufacturers Association (Northern).

"The Export Credit facility announced by Government for small to medium sized exporters is a great improvement for high risk destinations," said Alasdair Thompson, EMA's chief executive.

"Smaller exporters will welcome the scheme.

"The insurance underwriting on offer will help plug a gap in the risks faced by the smaller exporter going into countries where credit guarantees have not been readily available on the same basis as other countries make available to their exporters.

"Through the scheme the Government requires exporters to enter a risk sharing arrangement on a 60:40 basis and it's surprising it has taken so long to launch this somewhat timid underwriting.

"We hope Government can become more bullish in its backing for our export prospectors and their prospects."

Further comments: Alasdair Thompson tel 09 367 0911 (bus) 09 303 3951 (hme) 025 982 024

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