UK Export Finance is seeking a repayable cash advance from the Contingencies Fund of £500,000. The requirement has arisen due to an urgent need to refresh its existing IT equipment (laptops) to meet the needs of the Department and manage its response to covid-19.
Parliamentary approval for additional capital of £500,000 will be sought in a supplementary estimate for UK Export Finance. Pending that approval, urgent expenditure estimated at £500,000 will be met by repayable cash advances from the Contingencies Fund.
The cash advance will be repaid upon receiving Royal Assent on the Supply and Appropriation Bill.