The Chancellor has announced a £10 billion increase in UKEF’s capacity to support UK exporters.
The UK Export Finance (UKEF) has been given an additional £10 billion to increase its maximum exposure limit from £50 billion to £60 billion, in order to boost UK exports. UKEF’s mission is to ensure that no viable UK export fails due to lack of finance or insurance, without incurring any net cost to taxpayers. In the last fiscal year, UKEF provided financing worth £7.4 billion to all types of exporters, supporting up to 72,000 jobs. The agency aims to continue supporting economic growth and employment across the UK with this extra capacity, while also prioritizing clean growth and climate adaptation. Since 2019, UKEF has supported sustainable projects worth £7 billion, and it intends to use this new capacity to encourage long-term, sustainable economic growth.
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