Export Finance Australia And UK Export Finance Enhance Relationship
Export Finance Australia (EFA) and UK Export Finance (UKEF) have signed a Memorandum of Understanding (MoU) deepening co-operation in areas of mutual interest.
Media release
Export Finance Australia, UK Export Finance.
21 December 2023
Export Finance Australia (EFA) and UK Export Finance (UKEF) have signed a Memorandum of Understanding (MoU) deepening co-operation in areas of mutual interest.
The MoU builds on EFA and UKEF’s existing strong relationship and will enable the agencies to deepen collaboration in areas such as the energy transition, infrastructure and growing secure supply chains.
The signing of the MoU follows EFA and UKEF participating in the financing of the Hai Long Offshore Wind Power Project in Taiwan, EFA and UKEF’s largest renewable energy project financings to date.
EFA Managing Director and CEO, Mr John Hopkins, said the MoU coincided with Australia and the United Kingdom celebrating the first anniversary of the Australia-United Kingdom Free Trade Agreement (A-UKFTA).
“EFA and UKEF share many interests such as Indo-Pacific infrastructure, critical minerals and defence,” Mr Hopkins said.
“This MoU builds on our existing strong relationship and will see more frequent engagement, enhanced working level exchanges and joint financings.”
UKEF Chief Executive, Mr Tim Reid, said the signing of the MoU on the anniversary of A-UKFTA signified the deep commitment between the United Kingdom and Australia to boost the enormous trading potential between the two nations and seek out new investment opportunities in the Indo-Pacific.
“Export credit agencies are a force for good in their own right, so when we come together it means we can unlock even greater opportunities for British businesses and economic growth. UKEF is committed to strengthening ties with our partners like EFA to do just that,” Mr Reid said.
“I very much look forward to working closely with John and the EFA team to explore our mutual interests.”
About Export Finance Australia (EFA)
EFA is Australia’s export credit agency (ECA). EFA provides commercial finance for export trade and overseas infrastructure development. From small and medium sized enterprises (SMEs) to large corporates, foreign Governments and infrastructure projects, we help Australian businesses take on the world. In doing so, EFA finance supports Australia’s economic security and regional resilience.
EFA administers the Australian Government’s National Interest Account (NIA), which currently includes the Critical Minerals Facility, the Defence Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific (AIFFP).EFA also provides support to other Commonwealth entities, including the National Reconstruction Fund (NRF) Corporation, Housing Australia and the Northern Australia Infrastructure Facility (NAIF).
About UK Export Finance
UK Export Finance (UKEF) is a UK government ministerial department operating as the nation’s export credit agency. UKEF partners with private sector finance providers as well as other state export credit agencies to increase UK exports and grow the UK’s international trade.
Working alongside its private sector partners, UKEF helps exporters access working capital and insurance by offering a government guarantee. It supports companies of all sizes, across multiple sectors – from advanced manufacturing to creative services.
Operating for over 100 years, UKEF is an award-winning ECA with an extensive track record of success in supporting UK businesses to reach new international markets.
