Mr Paul HKD
CONFIDENTIAL
HKB 182 13 18213
61994
12
Hong Kong Airport Project : ATP Finance
The Secretary of State was grateful for your submission of 23 May. However, the Secretary of State has reservations about raising ECGD cover in the terms of your letter. He thinks that in view of the history of our dealings with the Treasury over ECGD cover in the last few months, it would only provoke a counterblast, probably along the lines that if we set aside cover for the airport we must forego amber zone cover for other markets. Accordingly, the letter to No 10 has issued with a more graduated passage on ECGD which simply flags up the issue.
31 May 1991
Cc: PS/Lord Caithness
CC
Sir J Coles
Mr Bayne
Mr Manning, ODA
Mr Burns
ERD
(S L Gass)
CONFIDENTIAL
7.3.
l Mr Stra
Mr
Pa
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74