Part 3: Capital Measures (continued)
Foreign Affairs and Trade
Export Finance and Insurance Corporation — capital injection
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The Government will provide $200.0 million of additional capital in 2014‑15 to the Export Finance and Insurance Corporation (EFIC). This equity injection reverses the decision of the previous Government to take a one‑off special dividend from EFIC in 2012‑13 and will allow EFIC to better support Australian exporters and trade.
Relocation of the Tehran Embassy — cessation
|Department of Foreign Affairs and Trade||‑79.4||‑||‑||‑||‑|
The Government will achieve savings of $79.4 million by not proceeding with the relocation of the Australian Embassy in Tehran, following a long period of delays and cost escalations.
The savings from this measure will be redirected by the Government to repair the Budget and fund policy priorities.