UK export credit agency gains £10bn in additional financing

(Institute of Export & International Trade, London, 4 April 2023) UK Export Finance (UKEF) has been granted an extra £10bn of capacity to support UK businesses selling overseas. According to a press statement, this brings the total cap on its financial exposure to £60bn and adds extra capacity to the agency’s work supporting UK exporters. UKEF says it provided £7.4bn in financing in the 2021-22 financial year, which supported 72,000 jobs in the UK. The government credit agency also states that, as part of its renewed focus on combatting climate change, the additional capability will help it focus on building long-term, sustainable growth.