ANNOUNCEMENT 29 Mar 2017

In March 2017, the Minister for Africa, Tobias Ellwood, announced in a speech at the UK-Angola Trade and Investment Forum that the UK Export Finance agency (UKEF) has increased its financing of trade between the UK and Angola with 50%.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

UKEF Press release of 29 March 2017, Minister Ellwood's speech at UK-Angola Trade and Investment Forum: https://www.gov.uk/government/speeches/minister-ellwoods-speech-at-uk-angola-trade-and-investment-forum
UK Export Finance agency, How to access export credit insurance, a guide to UK export finance's export insurance policy, Version 1.0, May 2015: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/562051/UKEF_Broker_toolkit_Oct_2016.pdf
UK Export Finance agency, Guidance, Export Working Capital Scheme, Published 24 April 2013, Last updated 16 October 2017: https://www.gov.uk/guidance/export-working-capital-scheme-overview-and-how-to-apply

Inception date: 29 Mar 2017 | Removal date: open ended
Still in force

Trade finance

On 29 March 2017, in a speech at the UK-Angola Trade and Investment Forum, the Minister for Africa, Tobias Ellwood, announced that the UK Export Finance agency (UKEF) has increased its financing of trade between the United Kingdom and Angola. The budget is increased from GBP 500 million (approx. USD 620.3 million) to GBP 750 million (USD 930.5 million). Trade financing is available to Angolan companies purchasing UK goods or services as well as to UK companies exporting to Angola. 

The GTA includes various financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.

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