UKEF upgrades support for SMEs to boost global exporting ambitions

Press release

New Bills and Notes Guarantee product offers SMEs a simpler process to access export finance

  • Announced at UKEF’s annual Finance Forum, the new Bills and Notes Guarantee product is part of its wider package to support SMEs in securing exporting contracts.
  • The Bills and Notes Guarantee enables overseas buyers of UK goods to benefit from extended payment terms.
  • Andrew Bowie, Minister for Exports, highlights the vital role UKEF can play in supporting SMEs in the challenging global economy.

UK Export Finance has launched a new product to help support SMEs through challenging market conditions. Announced by Minister for Exports Andrew Bowie, at UKEF’s annual Finance Forum, the new Bills and Notes product is now open to guarantee payments by overseas buyers. The product will be available to more financial institutions with a simpler, more streamlined process.

The announcement came almost a year to the day of the Government’s launch of its export strategy and the concrete target of getting UK PLC to 1 trillion pounds of export sales.

Andrew Bowie, Minister for Exports, said:

To deliver growth, level up the country, and future proof our economy, we need to export more.

That’s why UKEF helps businesses of all sizes to expand and start their exporting journeys. The support that UKEF provides is crucial for firms, especially for small businesses in particular while they grapple with the current economic headwinds. That’s why our new Bills and Notes Guarantee is so welcome. It’s the latest in our support for SMEs and provides a faster and more streamlined process to get money in businesses accounts.

In the last year UKEF has provided record support for small and medium businesses across the UK and I am committed to building on this momentum.

Bills and Notes are a standard method of payment where money is due under bills of exchange or promissory notes. UKEF has now improved its offer to enable overseas buyers of UK goods to benefit from extended payment terms structured using these methods. Simply put it means small UK businesses can get paid more quickly and easily for their exports. This helps with crucial cash flow and liquidity.

As part of its wider package of support for SMEs, it is the latest announcement by UKEF in its mission to remove barriers to trade. Through partnerships with specialist lenders, UKEF can now support a greater range of UK exporters – including those with smaller transactions – by arranging tailored, deferred payment facilities for companies worldwide.

In 2021-22, 81% of companies supported by UKEF were SMEs, a new record for UKEF. This is underpinned by the ‘gamechanging’ General Export Facility (GEF) designed to give SME exporters more flexibility in accessing trade finance.

Moreover, UKEF provided £27 million of support to ensure UK SMEs got paid up front to fulfil export contracts, using its Standard Buyer Loan Guarantee scheme, while overseas buyers benefit from flexible repayment terms.

Published 17 November 2022




UK and partners launch new measures at COP27 Solutions Day to drive progress on transition to Zero Emission Vehicles

Today at COP27 on Solutions Day, the UK COP26 Presidency will convene Ministers and senior representatives to accelerate the transition to Zero Emission Vehicles by:

  • Launching the new Accelerating To Zero Coalition – a platform for leading initiatives to work together to deliver a Paris-aligned Zero Emission Vehicle (ZEV) transition globally.

  • Announcing a total of 214 ZEV Declaration signatories, committing them to a global all-ZEV sales target by 2040, and 2035 in leading markets, including new signatories France and Spain.

  • Launching a support package for emerging markets and developing economy (EMDE) countries, backed through a Global Commitment by donor countries including the UK, US, Germany and Japan.

At COP26 the UK and partners launched a “Zero Emission Vehicles Declaration” to accelerate the transition to all new cars and vans being zero emission by 2035 at the latest in leading markets, and 2040 globally, in line with Paris Agreement climate goals. The Declaration now has over 210 signatories (up from 130 at COP26) – from national and sub-national governments, to manufacturers, businesses and fleet owners. New signatories include France, Spain, Abou Ghaly Motors, and Vikram Solar.

The impact of the ZEV Declaration is already being realised. BloombergNEF’s newly published ZEV Factbook shows that 2022 is set to be a record year for ZEV sales, with electric vehicles comprising 13.2% of all new vehicles sold in the first half of 2022. This will speed up the move away from fossil fuels, with the expected adoption of electric vehicles and fuel cell vehicles avoiding almost 1.7 million barrels of oil use per day in 2022, about 3.8% of total demand.

As a further sign of momentum for the growing ZEV transition, today the Accelerating to Zero Coalition (A2Z) will be launched, which will host the ZEV declaration from COP27 onwards. The A2Z Coalition is a partnership between the UK, the UN High Level Action Champions team, the Climate Group, the International Council on Clean Transportation and the Drive Electric Campaign, who will work together to promote a faster global ZEV transition and help signatories implement those commitments by providing bespoke workshops, assistance and access to a international community of best practice.

Alok Sharma, COP26 President, said:

“The ZEV declaration signed at COP26 was a major milestone bringing together leading actors to accelerate the transition to 100 percent new car sales being zero emission by 2040, and 2035 in leading markets.”

“There are still huge opportunities in emerging markets and developing economies which is why I’m pleased to formally launch the Accelerating To Zero Coalition today. This coalition provides the platform for countries to go further and faster and to ensure that no country is left behind.”

Together with partner countries and organisations, the UK COP26 Presidency will today launch a new support package for EMDE countries – part of international efforts to ensure a truly global transition to ZEVs. This support package includes:

  • A Global Commitment – signed by the US, Germany, Japan, the Netherlands, South Korea, Sweden and the UK – outlining collective ambition to mobilise more assistance and align existing funds to support ZEV transitions in EMDE countries this decade.

  • A ZEV Country Partnership with India – signed with the UK and US – to provide tailored and impactful support that helps India deliver their ambitious ZEV commitments.

  • A scalable ZEV Rapid Response Facility (ZEV-RRF) to address the short-term, urgent technical assistance needs of EMDE governments, helping unlock larger scale projects and funding for their ZEV transitions.

  • A US-led ZEV Emerging Markets Initiative – in partnership with the UK Government and World Business Council for Sustainable Development – to foster dialogues between EMDE governments and major international companies to help scale up investment for countries’ transitions.

The first tranche of the World Bank’s Global Facility to Decarbonise Transport projects will also launch at COP27, facilitated by UK funding announced at COP26. This includes projects to support electrification of transport in countries, such as India and Ghana, as well as wider regions through its new Regional Financing Facility to Decarbonise Transport in Sub-Saharan Africa.

Also on Solutions Day, the UK-USA-co-chaired Zero Emission Vehicles Transition Council (ZEVTC) will launch its new yearly Action Plan, setting out its priorities for 2023. This includes infrastructure, the role of fleets in the ZEV transition, fair consumer access and supporting a more equitable transition as priority areas of discussion and collaboration between members in the coming year.

ENDS

Notes to editors:

Additional quotes from supporting countries and stakeholders:

Catherine Stewart, Ambassador for Climate Change, Canada said:

“It’s clear that rapid transition to more zero emission vehicles is crucial to keeping the Paris Agreement goal of 1.5ºC within reach, while helping Canada and the world achieve a better, cleaner future. The work being done as part of Accelerating the Global Transition to Zero Emission Vehicles helps bring together countries, sub-national governments, businesses and investors. This is an important step in taking meaningful climate action.”

Vivien Heijnen, Environment Minister, Netherlands, said:

“We should accelerate to zero, and we can. Clear targets, incentives and affordability and ease for users are key. It’s very inspiring to work with these frontrunners. Down the line, we’ll all benefit.”

Yana Garcia, California Secretary for Environmental Protection said:

“Greenhouse gas emissions and air pollution are harming our health, and destroying our planet and our atmosphere. We must transition to zero emission vehicles as quickly as possible. California is well on our way to ditching the tailpipe, and we’re proud to harness the strength of A2Z’s dynamic coalition of partners, as we do so. We can only go far together, and the coordinated effort led by A2Z is key in enabling us to do just that.”

Nicolas Peltier, Global Director for Transport, World Bank, said:

“There is an urgent need to lower emissions from transport, and the ZEVTC has made great progress in creating momentum behind the importance of increased EV adoption. New World Bank research finds a strong economic case for e-mobility adoption in many developing countries and suggests achievable entry points such as electric buses and electric two- and three-wheeled vehicles. We have known for quite some time that transitioning to e-mobility was important, but now, with this research, we know it will be feasible in many countries. We are optimistic that through cooperation with partners, we can expand the financing available for e-mobility initiatives and use our Global Facility to Decarbonize Transport (GFDT) to pilot new approaches for making zero-emission transport a reality in developing countries.”

Mr Andreas Carlson, Minister for Infrastructure and Housing, Sweden

“An accelerated electrification of transport is key to achieve the Swedish climate goals and the objective of the Paris Agreement. Participation in the A2Z coalition and the ZEV Government Leaders emphasise the Swedish government’s commitment to climate action and international cooperation. The Swedish industry is onboard with the technical solutions and the shared engagement, let’s pioneer the possible.”

Helen Clarkson, CEO, Climate Group said:

“We need all stakeholders to work together to achieve the ZEV transition at pace and scale. The global ZEV Declaration demonstrates the growing consensus that we need to phase out ICE vehicles by 2035 in leading countries and no later than 2040 globally. We’re looking forward to working with our partners in the A2Z coalition to keep this community of leaders growing and building the connections that will allow us to achieve this goal together.”

Sheila Watson, Deputy Director, FIA Foundation said:

“The FIA Foundation is proud to be a ‘Spoke’ partner of the ZEV Rapid Response Facility. The global transition to zero-emission road vehicles is essential to achieve our global climate goals, but it is also vital that no country is left behind. We will bring many years of experience working with EMDEs through the Global Fuel Economy Initiative to the Facility to ensure every country gets the support it requires to make the mobility transformation needed to protect our planet”

Monica Araya, Distinguished Fellow, ClimateWorks said:

“A2Z brings together the world’s first coalition to advance zero-emission vehicles in all segments. At Drive Electric, we celebrate and support this coalition of developed and developing countries, governments and manufacturers, cities and other non-state actors that aim to go faster for the benefit of health, climate, and the economy.”

Drew Kodjak, Executive Director, ICCT said:

“ICCT research has repeatedly shown that to achieve the Paris Climate Accord goal of staying well below 2°C, the largest and leading vehicle markets need to hit 100% electrification of passenger car sales by 2035. The launch of the Accelerating to Zero Coalition creates a forum where the most ambitious governments, automakers, fleet owners, and other stakeholders can give and receive support for their efforts to achieve 100% ZEV car and van fleets. We are happy to support the Coalition and build on the momentum created since COP26 through the ZEV Declaration.”




Urging the Syrian regime to improve its appalling human rights record: UK statement at UN

Thank you very much Mr Chair.

The United Kingdom strongly reiterates its support for this resolution and welcomes other co-sponsors. This language sets out the international community’s shared concerns and urges Syria to improve its appalling human rights record.

15 March 2022 saw the 11th anniversary of the conflict in Syria, marking over a decade of atrocities in Syria. The UK condemns these acts and strongly supports efforts to hold perpetrators of war crimes and crimes against humanity to account.

The UK remains deeply concerned by the situation over the past 12 months. The Syrian regime continues to commit crimes against humanity, war crimes, and human rights violations against the Syrian people, including the use of sexual violence, arbitrary detention, ill-treatment, and torture.

Tens of thousands of Syrians have been forcibly disappeared and detained during the conflict. Thousands of families wait to hear about loved ones. It is crucial that Syrians receive information about these disappeared persons, and that efforts are increased to deliver answers and accountability for victims of the regime. The regime must provide answers.

The humanitarian situation has worsened dramatically since cross-border access was reduced. An estimated 14.6 million people need humanitarian assistance and approximately 12 million people face acute food insecurity. It is vital that life-saving cross-border access continues, particularly in the harsh winter months, and with a Cholera outbreak spreading in the region.

The UK also defends the use of country-specific resolutions in the Third Committee. The Committee’s remit focuses on the examination of “human rights issues that affect people all over the world”. Such resolutions are only tabled for the most serious or prevalent violators.

The Syrian people must not be forgotten and must not be left to resolve this crisis alone. Through the adoption of this resolution, the international community can hold the Syrian regime to account and help ensure it fully complies with its international legal and human rights obligations. Therefore, we would urge all states to vote for this resolution.

Thank you.




The Iranian people have suffered enough: UK statement at UN

Thank you Mr Chair.

The United Kingdom wishes to thank Canada for bringing forward this timely resolution.

In recent months, the human rights situation in Iran has continued to deteriorate. Two months ago, we witnessed the tragic death of Mahsa Amini: a shocking reminder of the repression faced by women in Iran. We deplore the violent suppression of women’s rights, and enforcement of the mandatory hijab and chastity law by Iran’s so-called Morality Police.

We also find Iran’s response to the protests movement that followed Mahsa’s death truly abhorrent. Over 326 Iranians have lost their lives and over 14,000 have been arrested. The death sentence announced last week, for a protestor, signifies a shocking worsening of the situation.

It is for these reasons that we welcome Germany and Iceland’s efforts to call a Special Session of the Human Rights Council on 24 November, which we hope will mandate a robust investigation into protest-related human rights violations in Iran.

Sadly, such repression remains systematic in Iran. In the first six months of 2022, Iran executed at least 251 people. The UN also called out Iran for executing a juvenile offender in November 2021.

The UK supports the essential work of the Special Rapporteur in shining a spotlight on Iran’s human rights violations. We welcome his efforts to expose the systematic repression of minority groups, as well as continued restrictions on media freedom and internet access.

Mr Chair, the Iranian people have suffered enough. It is time their fundamental freedoms were upheld, including the rights to peaceful assembly, freedom of expression and speech both online and offline. Iran’s leaders must choose another path. Now is the time to stop blaming external actors, to hold up the mirror and start listening to the voices of their people. Yet Iran continues to suppress the voices of civil society, and report of Member States attempting to block NGO access to the room today are a further concern. The UK encourages all Member States to now join us in voting yes on this resolution.

Thank you.




For people in Crimea, the story of untold suffering began eight years ago: UK statement at UN

Thank you Mr. Chair.

The United Kingdom reiterates its support for this resolution and welcomes the significant number of co-sponsoring states.

This year, we have looked on in horror as Putin launched his unprovoked, illegal war, bringing untold suffering to the innocent people of Ukraine. But we are acutely aware that for people in Crimea, this story began eight years ago, in 2014.

Since then, they have endured a brutal and systematic campaign of human rights violations and abuses at the hands of the Russian authorities: arbitrary arrests and detentions, torture, and unjustifiable restrictions on the fundamental freedoms of movement, expression and religion or belief. Many of these measures have been disproportionately targeted at ethnic and religious minorities, in particular Crimean Tatars.

Since Russia’s invasion this February, the human rights situation in Crimea has only further deteriorated. This resolution highlights that Crimea has become both a base from which to launch attacks on the rest of Ukraine, and a blueprint for further Russian human rights abuses in Ukrainian territory. We condemn the conscription and mobilisation of Ukrainian civilians in Crimea into Russia’s Armed forces, and the forced imposition of Russian legislation further limiting freedom of expression, including the freedom to speak out against Russia’s brutal war.

And we regret that – despite this Committee’s repeated requests – Russia continues to deny access for international monitoring missions to Crimea and other regions of Ukraine under its temporary control.

Russia will undoubtedly accuse us of politicising this Committee. But the UK strongly defends the use of country-specific resolutions, which complement the work of the Human Rights Council and other fora in providing scrutiny of adherence to human rights obligations.
Indeed, on 4 November this year, this Committee adopted a resolution that noted with alarm that Russia has sought to justify its territorial aggression against Ukraine on the purported basis of eliminating neo-Nazism.

By failing to make even the weakest case against this language, Russia tacitly acknowledged what we all know: It has no justification for its aggression against Ukraine

Adoption of this resolution today will underline the international community’s support for Ukraine in their fight against that aggression, and their resolve to maintain pressure on Russia to bring an end to its systematic abuse of human rights in Ukraine.

Thank you.