UK government increases support for SME trade

(Specialist Banking, London, 29 October 2017) UK Export Finance (UKEF) – the UK’s export credit agency – has launched a new partnership with five major high street banks,  Barclays, HSBC, Lloyds, RBS/NatWest & Santander, enabling smaller businesses to access millions of pounds in government-backed trade finance directly from their banks in seconds. Companies which supply exporters can now access UKEF-backed finance for the first time, helping them become part of major export contracts. [It is not clear how or if the OECD Common Approaches will apply to this support.]