The government's export credit agency, the Export Credits Guarantee Department (ECGD), will launch an Export Working Capital Scheme, a Bond Support Scheme, and will support banks offering foreign exchange hedging contracts to SMEs by sharing credit risk.
The Export Credits Guarantee Department (ECGD), however, sees its role less as an active promoter of British exports than as a last-ditch line of defence when the market has no answer (it is also charged with making a profit).