ANNOUNCEMENT 11 Jul 2016

In July 2016, the British government announced a change in its trade finance instruments.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 30 Jun 2016 | Removal date: open ended

Trade finance

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 St Vincent and the Grenadines's International Airport Development Company Ltd, which was offered direct lending worth 12.5 million GBP for a contract with NSG Exports Ltd. According to the company's website, NSG provided construction and logistical services.
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.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
N/A
Inception date: 30 Jun 2016 | Removal date: open ended

Local sourcing

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.

 
N/A
 
N/A