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Overseas Loans: Developing Countries

Volume 471: debated on Monday 28 January 2008

To ask the Secretary of State for Business, Enterprise and Regulatory Reform what his Department's record management practice is on keeping information relating to contracts for loans made to developing countries, with particular reference to the (a) length of time for which information is retained and (b) the information which is retained. (180304)

ECGD's current policy is to retain all documentary information in its possession in relation to transactions which it has supported, for a period of up to seven years after the final repayment date of the loan or contract has been received. Where there has been a payment default and ECGD has paid a claim, the information would be held for up to seven years after the date on which ECGD either makes its final recovery in respect of the claim which it has paid or decides to abandon recovery action.