UK Export Finance (UKEF)’s mission is to ensure no viable UK export fails for lack of finance or insurance, while operating at no net cost to the taxpayer. UKEF helps UK companies win export contracts by providing attractive financing terms to their buyers, fulfil contracts by supporting working capital loans, and get paid by insuring against buyer default. For this reason, this response has interpreted the request for the proportion of UKEF spend as the proportion of UKEF support, that being the share of total maximum liability UKEF provided for exports relating to renewables in low and middle-income countries in each of the last three years.
UKEF classifies countries as per the World Bank classification system, where countries are divided into four income categories – low, lower-middle, upper-middle and high-income. For this reason, the response has interpreted ‘developing economies’ to include countries with either a low, lower-middle and upper-middle income classification.
The share of support UK Export Finance (UKEF) provided for exports relating to renewables in low and middle-income countries can be found in the table.
Share of maximum liability which went to renewables projects in low and middle-income countries, %
UKEF publishes details of the support it provides in its Annual Report and Accounts.