A government credit guarantee has allowed Teesside stainless steel alloy inventor and manufacturer Paralloy to secure up to £26m of a Santander UK bank guarantee facility to support the continued growth of its export business. Announced on National Manufacturing Day, the guarantee from UK Export Finance (UKEF) – the government’s export credit agency – allows […]
Lloyds Bank has completed what it believes to be the first transaction under the UK’s new Electronic Trade Documents Act (ETDA) which came into force today [20 September 2023]. The ETDA gives electronic Bills of Exchange, Bills of Lading and other commercial documents the same legal footing as paper documents. The legislation is designed to […]
A ‘ONCE IN A GENERATION OPPORTUNITY’ TO MODERNISE INTERNATIONAL TRADE TRANSACTIONS Today, the Electronic Trade Documents Act comes into force, enabling all companies using English law when trading internationally to remove paper and transition to fully paperless system. Prior to the commencement of the Act, trade suffocated under antiquated laws which required key international trade […]
A UK Export Finance guarantee has enabled micro-business Gas Recovery and Recycle Limited, GR2L, to secure and deliver a £4m export contract with India’s solar energy sector The Surrey business developed the world’s first ever distributed argon recycling technology, helping solar-panel manufacturers cut waste, emissions and costs UK government backing puts this world-leading cleantech firm […]
A new report by the Asian Development Bank (ADB) has found that the global trade finance gap has widened to the highest on record to $2.5tn in 2022. This gap highlights the unapproved demand for finance to facilitate international commerce. The report, titled “2023 Trade Finance Gaps, Growth, and Jobs Survey,” found that the gap […]
The UK government has secured a £2.5m funding package alongside Santander UK to help Dewsbury furniture manufacturer Jay-Be fuel its export growth. UK Export Finance (UKEF), a government department which exists to help UK firms win, deliver and get paid for export contracts, provided support for the bed and mattress specialist by issuing a General […]
Lloyds Bank has launched a new strategic trade partnership with UBS to expand its global reach, helping its UK-based clients to do business in 170 countries around the world. Through the agreement, Lloyds Bank clients can now access a 700-strong global network of banks and access to Export Letters of Credit. This further expands Lloyds […]
Flanders Investment & Trade (FIT) has launched Startup.Flanders, a platform that provides targeted services for investors in the region. It positions Flanders (the northern region of Belgium) as an innovative hub for international start-ups. The announcement coincides with the results of a poll, published today, that found that 95% of UK business decision makers surveyed […]
UK Export Finance (UKEF), the UK government’s export credit agency, has underwritten €781m of financing – equivalent to £680m – to support construction of a 286km high-speed electrified railway across southern Turkey. With financing provided through UKEF’s Buyer Credit Facility, Rönesans Holding will finish construction of the Mersin-Adana-Gaziantep High Speed Railway on behalf of the […]
UK government backing has enabled a financing package of €422m – equivalent to £373m – for transformational infrastructure projects driven by UK exporters across Zanzibar, Tanzania. The financing was underwritten by UK Export Finance (UKEF), the UK government’s export credit agency, and enables two major projects: a historic upgrade to Pemba Airport – the smaller […]
