Created on: 2017-01-31 17:11:30
Last update: 2017-11-21 17:11:14
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About UK Export Finance
UK Export Finance is the operating name of the Export Credits Guarantee Department (ECGD), the United Kingdom's export credit agency and a ministerial department of the UK government. The agency was established in 1919 to promote UK exports lost during the submarine blockade of World War I. Currenlty, UK Export Finance helps UK companies to access export finance. Support can be given for contracts as low as GBP 1,000, but some of the projects are worth more than GBP 1 billion. The agency derives its powers from the Export and Investment Guarantees Act 1991 and undertakes its activities in accordance with a specific consent from HM Treasury.
UK Export Finance's involvement in the Baku–Tbilisi–Ceyhan pipeline has made it a controversial government department.
UK Export Finance signed the Equator Principles in 2016. BankTrack profiled this financial institution as part of our Equator Principles Track and Chase Project.
1 Horse Guards Road
SW1A 2HQ London
Louis Taylor |
UKEF Annual Report and Accounts 2016 to 2017|
UK Export Finance report 2015-2016
UK Export Finance is a ministerial department of the UK government and as such publicly accountable.
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Voluntary initiativesUK Export Finance has committed itself to the following voluntary standards:
An overview of UK Export Finance's investment policies can be seen here.
UK Export Finance and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. UK Export Finance adopted the Equator Principles in 2016.
Reporting on the Equator Principles
UK Export Finance must report annually on its implementation of the Equator Principles. All information is supposed to be found here.