J
CODE 18-77
Reference...
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not to be awarded until some unknown time in the future. This would unnecessarily tie up funds, which could be used for other purposes. DTI propose to send a warm sounding message to Day to pass to Allen which would explain HMG's inability to comply with his request. Mr Needham has been consulted and has agreed this
course.
Nickuer there
T G Furness
with assistance.
At this stage
are must сме stage I think ✓5.
go the experts. HKG have not sought our
If there is some clever political game plan to all this,
this, they better let us in on it.
M
28/7
Note: Pending resolution of the Amber Zone Budget, control of export credit for Hong Kong is by means of the Market Exposure Control (MEC) figure of £3 bn agreed last year by ECGD's Advisory Council. Early this month when ECGD sought approval from Treasury for a commitment for Black Point their exposure and commitments for Hong Kong (exluding Black Point) were £1909m. Treasury approval of £1,000 for Black Point would bring total exposure and commitments very close to the MEC limit.
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