ANNOUNCEMENT 25 Mar 2014
In March 2014, the British government announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
On 25 March 2014, the UK Export Finance agency announced it would guarantee an export loan worth up to 215 million USD for the construction of the Nghi Son refinery in the Vietnamese district Tinh Gia. The guarantee would cover the contracts signed UK suppliers.
These activities include numerous onshore and offshore installations, which shall be constructed inter alia by the British company Foster Wheeler Energy Ltd.
According to a media report (cf. Sources), UKEF provides loans under the condition that at least 25% of the loan is targeted to support British jobs.