Question reference: S6W-26105
- Asked by: Paul Sweeney, MSP for Glasgow, Scottish Labour
- Date lodged: 12 March 2024
-
Current status: Answered by Mairi McAllan on 26 March 2024
Question
To ask the Scottish Government, further to the response by the Cabinet Secretary for Wellbeing Economy, Net Zero and Energy to the question on a competitive shipbuilding financing guarantee programme during the ministerial statement on Ferguson Marine on 5 March 2024, whether it will provide a substantive response regarding whether it will introduce a competitive shipbuilding financing guarantee programme in Scotland, similar to that of the Turkish national investment bank, Türk Eximbank.
Answer
The UK Government introduced the Shipbuilding Credit Guarantee Scheme in July 2023.
The scheme provides a partial guarantee to a lender making a loan to a ship-buyer or operator, so that new vessels, or refits, retrofits or repairs of existing vessels can be procured from UK shipyards.
It can provide partial guarantees covering up to 80% of the risk to lenders for a maximum repayment period of up to 12 years.
The scheme is in its infancy, and it would be prudent to evaluate its impact in time before considering any potential alternative schemes in Scotland.