UK Export Finance doubles support for sustainable projects overseas to £2.4bn in 2020
Financing was provided for projects including offshore wind farms, solar farms and major transportation projects
Image: Shutterstock
UK Export Finance (UKEF) backed around £2.4 billion of sustainable projects overseas in 2020, doubling the amount it provided the year before.
It supported UK companies in helping bring new hospitals, clean energy, transportation and critical infrastructure to developing countries.
That includes more than £1.9 billion of financing for major transportation projects, including Egypt’s new electric monorail line and more than £120 million for major energy transformation projects including two offshore wind farms in Taiwan and two of Spain’s largest solar power plants.
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Greensill Bank s office in Bremen
Credit:
Markus Hibbeler /BloombergÂ
Bloomberg reports prosecutors are raiding the offices of Greensill bank, the lender that collapsed recently with billions of debts.
The homes of five suspects in Bremen were also raided by prosecutors investigating accounting irregularities, the publication said.
Bloomberg has the details: Â
Searches in the bankâs offices started last week and are continuing, said Frank Passade, a spokesman for prosecutors. Investigators on Tuesday also raided the homes of some of the five suspects in the probe. âThe raid continues as long as we say it continues,â Passade said. âThis gives us the opportunity to get into the bankâs offices whenever we need it.â
Taxpayers underwrite £600m loan to Nissan
UK Export Finance guarantees bank loan to support Sunderland plant as it plunges to £544m annual loss
21 April 2021 • 11:58am
Nissan’s giant Sunderland plant has been given almost £500m of taxpayer backing after the company’s British manufacturing arm reported a huge annual loss as output plunged because of lockdowns.
Accounts filed with Companies House show Nissan Motor Manufacturing UK agreed a £600m, five-year loan with a syndicate of banks understood to be led by HSBC in December, which is 80pc underwritten by UK Export Finance (UKEF).
UKEF is Britain’s state-backed export credit agency. It provides finance and insurance to help exporters win and fulfil foreign sales, and picks up the tab if the customer fails to pay.
20 April 2021
UK Export Finance backed £2.4 billion of sustainable projects overseas in 2020, doubling the amount it provided in 2019
Independent assessment of global Export Credit Agencies shows the UK is a world-leader in supporting sustainable projects
Government support for overseas projects forms part of HMG’s Global Britain campaign to create new trading opportunities for UK companies
UK Export Finance (
UKEF) provided over £2.4 billion of financial support to sustainable projects in 2020 helping UK businesses to build new hospitals, bring clean energy and develop critical infrastructure in developing countries, according to new data.
At the outbreak of the pandemic it was unclear how many projects, critical to the wellbeing to billions of people across the world, would continue to be financed.