UK government approves GBP 2.5B in loan guarantees for trade with Ukraine
The UK’s export credit agency, UK Export Finance, is resuming operations in the Ukrainian market with the possibility of issuing credit guarantees worth up to GBP 2.5 billion, the UK government has said in a press release.
“This comes as UKEF resumes cover for British exports to Ukraine and can now provide up to £2.5bn of support in order to stimulate UK exports to the country,” the press release reads.
According to the report, the Minister for International Trade, Ranil Jayawardena, was due to sign on October 8 a Memorandum of Understanding with the Ukrainian government that will identify sectors that could benefit from UK Export Finance support and help increase trade between the two countries.
The priority sectors highlighted are defense; agriculture; infrastructure; energy; and healthcare.
Earlier reports said that Ukraine and the UK had signed the Political, Free Trade and Strategic Partnership Agreement.
President Volodymyr Zelensky was on an official visit to the United Kingdom on October 7-8.