In its recently published annual report and accounts, UK Export Finance (UKEF) shows that it provided support worth over £3 billion to exporters in the manufacturing industry in the 2018-19 financial year.
For example, it provided £49 million worth of support for Darlington-based Cleveland Bridge to construct 250 bridges for rural communities in Sri Lanka.
It also provided a loan of $325 million to support an Airbus Defence and Space Ltd contract with Turksat (Airbus will manufacture and deliver two telecom satellites and a ground station for the continued provision of TV and data services in Turkey.
The annual report and accounts show that UKEF has had a ‘landmark year’, providing £6.8 billion in support for UK exports.
It helped 181 companies export to 72 countries, and 79% of these companies were SMEs. A further 81 UK companies secured business by supplying products or services to a project supported by UKEF.
International Trade Secretary Liam Fox said: “Over the course of the last 100 years, UK Export Finance has led the way in delivering innovative finance to help British companies achieve international success across a wide range of industries world-wide.
“I am delighted that UKEF has marked its centenary with a record year.”