AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 11 July 2016, the UK Export Finance agency presented its 2015/16 Annual Report. The report included a list of all beneficiaries of trade finance for the given fiscal year.
One of these beneficiares was India's Reliance Industries Ltd, which was offered buyer credit worth 146 million GBP. Multiple exporters benefitted in a project involvign the construction of a petrochemical plant.
Given that UKEF does not provide the exact date that the trade finance deal was signed, the most conservative inception date, i.e. the 30 June 2016, was set as the inception date.
UKEF already offered trade finance to Reliance Industries in the past by offering an export credit guarantee up to 300 million GBP (cf. Related Measures).
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