State steps in after concerns over private insurers
The Export Credit Guarantee Department (ECGD) has started providing export credit cover to smaller firms for the first time in 20 years, according to the Telegraph.
The government agency stepped in after business worries that private sector credit insurers were failing.
The EGCD will also pay brokers for introductions to small businesses that cannot currently secure export cover from the open market.
Cover will be available for contracts concluded in under two years and worth at least £20,000.
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