Pursuant to section 65ZD(3) of the Public Finance Act 1989, the Minister of Finance makes the following statement:
"On 23 December 2009, John Henry Whitehead, Secretary to the Treasury, on behalf of the Crown,
under delegations from the Minister of Finance under section 28 of the State Sector Act 1988, provided
New Zealand Export Credit Office Financing Guarantees to ANZ National Bank in relation to 1 year letters of credit, which totalled EU 18.3 million as at 12 March 2010. The New Zealand Export Credit Office Guarantee provides cover for defined commercial and political
risks in order for a New Zealand exporter to offer finance terms to its buyer. A premium, commensurate with the risk, was paid by the ANZ National Bank for this Guarantee."
Dated at Wellington this 16th day of March 2010.
HON SIMON WILLIAM ENGLISH, Minister of Finance.