UK export finance support to British exporters at 12-year high

(FreshBusinessThinking, London, 20 June 2013) British businesses received £4.3 billion worth of support from the government through UK Export Finance (UKEF) in 2012-13, up from £2.3 billion in the previous year, and the highest in 12 years.
UKEF support has included:

  • £2 billion for Typhoon aircraft and spare parts to Oman
  • $700 million of finance for UK exports to a petrochemical facility in Saudi Arabia
  • £26 million in support for satellites to Russia
  • £280,000 support for transport consultancy in Gambia.
  • Smaller companies which benefit indirectly through the supply chains of major customers like Airbus, BAE Systems and Rolls-Royce

The Saudi petrochemical facility is the largest single limited recourse project financing UKEF has ever supported and will be carried out in partnership with other export credit agencies: US Ex-Im, K-Exim, K-sure, Hermes, FIEM and Coface.