Wrightbus: Finance

Department for International Trade written question – answered at on 24 November 2022.

Alert me about debates like this

Photo of Owen Thompson Owen Thompson SNP Chief Whip

To ask the Secretary of State for International Trade, whether her Department undertook an assessment of potential conflicts of interest before awarding Wrightbus £26 million in UK Export Finance-backed funding.

Photo of Andrew Bowie Andrew Bowie Parliamentary Under-Secretary (Department for International Trade)

UK Export Finance (UKEF) does not invest equity or provide funding into projects. The support it provides is in the form of insurance or guarantees for loans from commercial lenders.

UKEF considers all applications for support on their respective merits based on objective criteria. Any support given is provided on commercial terms, generating a return for the UK taxpayer.

UKEF applies rigorous due diligence processes before providing support for any transaction.

As is usual with such applications, there was no ministerial involvement in UKEF’s decision to support this transaction, which is driving growth and creating high-skilled green jobs in Northern Ireland.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.