UK Export Finance (UKEF) has today launched a month-long consultation into its foreign content policy. During the consultation, the UK's export credit agency will ask the public for its views on proposed changes, which are designed to recognise the full contribution of the UK supply chain in the transactions UKEF supports.
The proposed changes will enable UKEF to provide the most appropriate support for UK exporters and suppliers, ensuring that the UK remains competitive and enabling global buyers to purchase more easily from the UK.
The consultation was announced in the Spring Statement and follows the publication of the Export Strategy in 2018. The strategy underlines the government's commitment to providing comprehensive and flexible support to help UK exporters take full advantage of international demand for the UK's world-class goods and services.
Louis Taylor, chief executive, UKEF said:
UK Export Finance is committed to helping UK exporters succeed in overseas markets with the right support. By consulting on the support we provide, we are ensuring we can adapt in line with the world's changing economy and the changing needs of the UK's exporters, ultimately ensuring the UK meets its trading potential.
Background
UK Export Finance is the UK's export credit agency and a government department, working alongside the Department for International Trade as an integral part of its strategy and operations.
Our mission is to ensure that no viable UK export should fail for want of finance or insurance from the private market. We provide finance and insurance to help exporters win, fulfil and ensure they get paid for export contracts.
Sectors in which UKEF has supported exports include: aerospace, healthcare, infrastructure, telecommunications and transport.
UKEF has a national regional network of 24 export finance managers supporting export businesses.
Our range of products includes:
- Bond insurance policy
- Bond support scheme
- Buyer & supplier credit financing facility
- Direct lending facility
- Export insurance policy
- Export refinancing facility
- Export working capital scheme
- Letter of credit guarantee scheme
Our country cover positions outline our current cover policy and risk appetite for each country.
