UK Export Finance

Watch Simon Coote, General Manager at Alicat Workboats Ltd Boatworks and Richard Hill, EFM for Norfolk, Suffolk and Essex discuss how UKEF helped the Norfolk-based business to secure a major contract to build offshore wind workboats. With the new capital, Alicat will be able to build two workboats worth almost £1 million each for export to Turkey. Both workboats will be manufactured in Great Yarmouth, Norfolk, using 100% British materials. Read more about the announcement here: https://lnkd.in/eFAMcT78

This week, I had the privilege of attending TXF Asia 2024 in #Singapore. I caught up with ECA heads and industry leaders and we discussed the opportunities for British businesses to contribute to the green energy sector in South-East Asia. I was delighted to speak on the leadership panel, highlighting innovations in UK Export Finance product offering and our commitment to sustainability. I’d like to thank Sun Jung Lee, Managing Director and head of Export Finance at Santander, for chairing an engaging discussion. Also great to hear from John Hopkins of EFA, Hiroki Sekine of JBIC, Seong Hun(Steve) Kang of Ksure and Todd Winterhalt of EDC about their priorities. #UKEF #FINASIA24

On 19 November UKEF will be hosting the Yorkshire Business Forum for International Trade. We will be joined by representatives from government, businesses and financial institutions to discuss the support available to help you navigate the financial challenges of exporting. If your business is based in Yorkshire and would like to find out how the right finance and insurance can help you to win export contracts, fulfil orders and get paid, secure your place and register now: https://lnkd.in/eNvzWanj

We’ve issued our first ever loan guarantee supporting UK exports to Uzbekistan. The deal promotes multi-million pound UK machinery exports being supplied to one of the largest copper-production facilities in Central Asia. This success comes after the recent appointment of UKEF’s Country Head for Uzbekistan Sevara Madgazieva. Read more 👉  https://lnkd.in/emmrDpnA

New to exporting? We’ve created a series of ‘jargon busters’ to help you demystify some common export finance terms. Today we’re breaking down the term ‘Bond’. A bond is a type of financial security which is often used when agreeing payment terms for international trade. In its simplest form, someone who issues the bond owes a debt to the person who holds it. Banks can issue the required bond on the exporter’s behalf, but they will likely require collateral (in the form of a cash deposit) to secure the bond, which can tie up the exporter’s cashflow. This is where we may be able to assist with our Bond Support Scheme, where we provide guarantees to lenders in respect of bonds related to UK exports. Learn more about our Bond Support Scheme  👉https://lnkd.in/enQWrrc3

Join UKEF, Department for Business and Trade, Newable, White Oak UK, Accelerated Payments Limited, Synergy in Trade Ltd and Innovate UK at the Northamptonshire Business Forum for International Trade on 15 October to learn how your business can overcome the financial barriers to exporting. You will have the chance to hear from experts and meet with a range of financial institutions to discuss the support available for your business. Register to attend for free by 10 October 🎫 https://lnkd.in/e8yu3cZX

A major new investment in North Wales sees Shotton Mill, in Deeside, set to become the largest paper manufacturing campus in the UK. This is thanks to a £1bn investment from Eren Holding including crucial support from the UK and Welsh governments. The site, established in 1983, previously produced newspaper paper, but with the decline of the industry it was sold for redevelopment. This investment will see Shotton Mill be repurposed to become a containerboard facility and a single paper tissue line. It will have an entirely environmentally friendly production model, producing nearly 100% recycled paper. Today, Business and Trade Secretary Jonathan Reynolds MP visited the site alongside the Secretary of State for Wales, Jo Stevens, to meet with Hamdullah Eren, Chairman of Modern Karton (Eren) and Sabri Cimen, CEO and Board Member of Eren Paper. They discussed the impact this investment will have on the community, in a village which has a long and proud history as one of Wales’ key industrial centres. This investment will safeguard 147 jobs and create a further 220 when fully commissioned, while also raising living standards in the community and moving forward the government’s plans for sustainable growth. It is not only a massive vote of confidence in the Welsh economy, but also a testament to what can be achieved when the Welsh and UK governments work hand in hand. #NMD2024

In collaboration with British Business Bank's Business Finance Week (24 Sep - 3 Oct), UKEF will be hosting a webinar designed to empower UK exporters of all sizes. Hear directly from two of our Export Finance Managers who will discuss how we support both established and aspiring exporters. There will also be a Q&A session to better understand how we can support your exporting journey. Register your attendance now 👉 https://lnkd.in/eEd7BKqr

Secretary of State for Business & Trade, Jonathan Reynolds MP has shared a letter with UKEF CEO, Tim Reid setting out his priorities for the department over the next year. The letter covers key focus areas including: ✅Driving economic growth across the UK ✅Supporting a mission-driven Industrial Strategy ✅Working to make Britain a clean energy superpower ✅Increasing support for small and medium sized businesses Read the full letter 👉 https://lnkd.in/eSFUXF4c  

UKEF and Saudi EXIM Bank have re-signed a Memorandum of Understanding at the UKEF office in London. UKEF CEO Tim Reid met with Saudi Exim Bank CEO Eng. Saad Alkhalb as they pledged to work together on future green energy projects, boosting UK exports worldwide. 🤝