皇冠体育app

UK Export Finance has been granted an extra 拢10 billion of capacity to drive more UK exports, raising its maximum exposure limit from 拢50 billion to 拢60 billion.

皇冠体育app additional capacity will ensure the export credit agency鈥檚 continued ability to support UK exporters and to deliver on its mission: to advance prosperity by ensuring no viable UK export fails for lack of finance or insurance, doing that sustainably and at no net cost to the taxpayer.

UKEF CEO Tim Reid said:

This is fantastic news for the UK companies that we are here to support. It means we can help more British businesses export and will enable us to support more jobs and help to fuel growth.

In 2021-22, UKEF provided 拢7.4 billion in financing to exporters of all sizes, which supported up to 72,000 UK jobs. 皇冠体育app increased capacity will help UKEF continue to deliver on the government鈥檚 priorities, supporting economic growth and jobs in communities across the UK.

UK Export Finance is committed to increasing its support in clean growth and climate adaptation. This new capacity will help build on the 拢7 billion of support UKEF has provided for sustainable projects since 2019, as it focuses on long-term, sustainable economic growth.

Notes

• UKEF鈥檚 maximum commitment level is the maximum allowable size of UKEF鈥檚 financial portfolio (the total volume of finance that may offered by UKEF to support UK exports at any given time).

• Further detail on UKEF鈥檚 support for clean growth and climate adaptation can be found in our Climate Change Strategy