Teesside steel company secures record exports with finance support

UK Export Finance (UKEF) has announced significant changes to its range of products as the UK begins its first-ever International Trade Week.

Its new enhanced support, which include making its Export Development Guarantee (EDG) more flexible and accessible, will help to bring foreign businesses to the UK, stimulate investment into the green economy and level up its support for SMEs across the country.

International Trade Secretary, Anne-Marie Trevelyan said: “Supporting UK exporters, while bringing international investment to the UK is vital to levelling up all parts of the country. By enhancing our support offer, UKEF can encourage overseas companies to establish themselves in the UK to sell to the world.

“Our improved terms for clean growth exporters will help them seize new export opportunities and invest to grow their international business – spurring on the development of the British supply chain in high growth sectors too. With these changes, UKEF has the tools to help us deliver a greener future and a trade-led recovery.”

Marcus Dolman and Geoffrey De Mowbray, Co-Chairmen of the British Exporters Association said: “The increased UKEF support is welcomed and aligned with accelerating the UKs significant opportunities to advance UK exports and to drive clean and sustainable growth. The addition of challenger banks and alternative lenders is key to enabling SMEs access to UKEF’s products – all valuable additions for UK exporters.”