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UK Export Finance

Department for International Trade written question – answered on 5th November 2019.

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Photo of Steven Baker Steven Baker Conservative, Wycombe

To ask the Secretary of State for International Trade, what recent assessment she has made of the effectiveness of UK Export Finance; and if she will make a statement.

Photo of Graham Stuart Graham Stuart Parliamentary Under-Secretary (Department for International Trade)

As UK Export Finance (UKEF) celebrates its 100th anniversary as the world’s first export credit agency, it is building on along heritage of innovation. In 2018-19 UKEF underwrote the largest amount of business since 1991, providing £6.8 billion in support for UK exports. 79% of these companies were Small and Medium Enterprises. In the same period UKEF also made its largest ever transaction, with over a £5 billion package of support.

Earlier this year, UKEF were named the best export credit agency for 2018 by Global Trade Review and Trade Finance Global. The British Exporters Association has also recently commended the significant expansion of UKEF’s product range over the last decade. UKEF is well equipped to provide world class export finance to help UK businesses succeed globally.

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