Chris Leslie – 2014 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Chris Leslie on 2014-04-25.

To ask the Secretary of State for Business, Innovation and Skills, how many businesses received support through the UK Guarantees Exports Refinancing Facility in 2013-14.

Michael Fallon

Following the Chancellor’s announcement in the 2014 Budget UK Export Finance formally launched the Export Refinancing Facility (ERF) on 30 April 2014.

ERF is aimed at supporting UK bids for projects that require finance above $150m. As these projects typically involve lengthy contract negotiations, it may be sometime before we see a pipeline of deals that benefit from the ERF.