House of Commons · Written Ministerial Statement
UK Export Finance support for Ukraine
16 January 2024 · Department for Business and Trade
Proposed by Nusrat Ghani Con Sussex Weald
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- UK Export Finance (UKEF) will maintain 3.5bn of financial capacity for UK exporters and their buyers in Ukraine.
- Government ministers have decided to continue UKEF support for Ukraine despite increased risks.
- The statement addresses the UK's ongoing economic assistance to Ukraine in response to Russian aggression.
Issue summary
The statement discusses the UK's continued support for Ukraine against Russian aggression through economic assistance via UK Export Finance (UKEF).
Action requested
Government ministers have decided to keep UKEF on cover for Ukraine, maintaining £3.5bn of financial capacity for UK exporters and their buyers in Ukraine despite heightened risks.
Key facts
- UKEF has agreed to provide financing for the reconstruction of 6 bridges in Kyiv.
- UKEF supports Urenco’s contract to supply fuel to Energoatom, Ukraine's largest power producer.
- UKEF offers payment risk insurance for UK exporters trading with Ukraine.
- Ministers decide it is in the national interest for UKEF to continue covering transactions in Ukraine.
- The Government could incur up to £3.5bn of contingent liabilities over time.
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Assessment & feedback
Summary accuracy