For exporters, manufacturers and supply-chain businesses, the figures signal continued public finance support at a time when access to trade finance remains central to overseas growth. UKEF said British firms secured contracts in 37 countries over the last 12 months with its support.
UK Export Finance provided over £11 billion in loans, guarantees and insurance last year, helping British companies secure contracts in 37 countries.
The agency said its finance supported an estimated 85,000 jobs and up to £6.4 billion in GDP.
Smaller exporters accounted for 66 per cent of directly supported firms, with plans due to modernise UKEF’s mandate.
UK Export Finance said it has £130 billion (~$174.2 billion) of capacity to support UK businesses seeking to export and expand overseas. It also said 66 per cent, or 616, of all firms directly supported by the department last year were smaller businesses, reflecting its objective to broaden access to finance for small and medium-sized enterprises.
The department said plans will be set out in Parliament to bring forward legislation to modernise UKEF’s mandate. The proposed changes would give the UK’s export credit agency new powers aimed at strengthening economic resilience, securing critical supply chains and supporting long-term growth.
UKEF also expanded lending channels during the financial year by working with new non-bank lenders White Oak and Nighthawk, and more recently Mercore. In January, it mobilised an £11 billion joint lending commitment from the UK’s five leading banks to increase access to finance for smaller exporters.
Fibre2Fashion News Desk
