SECRET
EXPORT CREDIT
9.
Hong Kong is ECGD's major market in terms of the amount accepted in the national interest. at risk. ECGD commitments there amount to £1,253 million,
7% of its total commitments, but £1,025 million of this was
under Section II (loans made in the National Interest).
If ECGD provide a Sterling buyer credit for Castle Peak 'B'
Power Station, this would increase its liabilities in Hong
Kong by a further £1,120 million, and cover would extend
beyond 1997.
DEFENCE COSTS
10. HMG's commitment to the defence of Hong Kong will cost
an estimated £177 million in 1981/82. According to the
new Defence Costs Agreement signed in October 1980, Hong Kong
will pay 75% of costs, so HMG's contribution for the year
will be around £44 million.
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