ANNOUNCEMENT 10 Nov 2015
In November 2015, the British government announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
On 10 November 2015, the UK Export Finance agency sent a letter of interest to Azerbaijan's national water agency Azersu, offering to provide financing for a project worth up to 800 million USD.
This follows a signed memorandum of cooperation between Azersu and the British water construction company Biwater.
A UKEF representative was cited in the media saying "The letter of interest sets out the broad terms under which UKEF support could be available. It includes the requirement for UKEF to complete full project evaluation and due diligence".
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.