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UK Export Finance: Ukraine

Volume 705: debated on Wednesday 8 December 2021

The UK enjoys a strong relationship with Ukraine and is committed to supporting its security and economic prosperity. UK Export Finance (UKEF) has recently committed most of its market risk appetite for Ukraine to support a programme led by UK suppliers to upgrade the country’s naval capability. To ensure that UKEF can continue to support UK exporters to assist Ukraine with improvements to its national infrastructure, and in line with wider HM Government objectives, the Government have concluded that it is in the national interest to increase UKEF’s market risk appetite for Ukraine to £3.5 billion and have instructed UKEF to make appropriate arrangements. This will leave around £1.2 billion available for UKEF to support further priority projects, supporting skilled UK jobs and enabling additional UK exports to Ukraine.