International Trade Financce
Institutions who wish to engage with ECAs require technical expertise to see their ventures realised.
We understand the process and policies in place to obtain cover and manage relationships with ECAs and exporters.
Beginning with initial consultation to the application process until the approval of your venture. we will walk you through the entire process of formulating a policy for your institution.

Cover Policy
A cover policy covers your institution from all forms of risk.
Trade transactions are covered from end to end to ensure your venture is covered in the event your venture struggles to complete due to unforeseen circumstances present in the country you are exporting to.
A to Z list of country or territory cover policies and indicators
Afghanistan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
We are not able to offer any cover | No | No | Not applicable |
Albania
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£250 million to £500 million | Yes | Yes | Two |
Algeria
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
American Samoa
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£25 million to £50 million | Yes | Yes | One |
Andorra
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | Two |
Angola
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
Anguilla
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£10 million to £25 million | Yes | Yes | One |
For medium or long term cover we can only consider providing support for exports to private sector buyers.
Antigua and Barbuda
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
Normally irrevocable letter of credit or equivalent security for private buyers.
Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Argentina
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Contact us |
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
Armenia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£750 million to £1 billion | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to Care on Location.
For medium/long term business, we are willing to consider Local Currency Financing.
Aruba
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | Two |
Australia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
For medium/long term business Local Currency Financing is available.
Austria
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
Azerbaijan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
Subject to Care on Location.
Bahamas
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
Bahrain
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
For medium/long term business, we are willing to consider Local Currency Financing.
Bangladesh
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£500 million to £750 million | Yes | Yes | Two |
Subject to sustainable lending criteria.
Barbados
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Contact us | Two |
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
Belarus
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
Belgium
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
Belize
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Contact us | Two |
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Benin
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£250 million to £500 million | Yes | Yes | Two |
For medium/long term business, we are willing to consider Local Currency Financing.
Subject to sustainable lending criteria.
Subject to Care on Location.
Bermuda
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£500 million to £750 million | Yes | Yes | One |
Bhutan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£250 million to £500 million | Yes | Yes | Two |
For medium or long term cover we can only consider providing support for exports to private sector buyers.
Subject to sustainable lending criteria.
Bolivia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£750 million to £1 billion | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
Bosnia and Herzegovina
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£150 million to £250 million | Yes | Yes | Two |
For medium or long term cover we can only consider providing support for exports to private sector buyers.
Botswana
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Brazil
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
For medium/long term business, Local Currency Financing is available.
British Virgin Islands
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | One |
Brunei Darussalam
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
Bulgaria
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Burkino Faso
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£150 million to £250 million | Yes | Yes | Two |
For medium/long term business, we are willing to consider Local Currency Financing.
Subject to Care on Location.
Subject to sustainable lending criteria.
Burundi
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
We are not able to offer any cover | No | No | Not applicable |
Cambodia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£150 million to £250 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by an irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Cameroon
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£500 million to £750 million | Yes | Yes | Two |
For medium/long term business, we are willing to consider Local Currency Financing.
Subject to sustainable lending criteria.
Canada
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
For medium/long term business, Local Currency Financing is available.
Cape Verde
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£25 million to £50 million | Yes | Yes | Two |
Subject to sustainable lending criteria.
Cayman Islands
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | One |
Central African Republic
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | No | Not applicable |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
Chad
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
Normally irrevocable letter of credit or equivalent security for private buyers.
Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Chile
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
For medium/long term business, Local Currency Financing is available.
China
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Colombia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
For medium/long term business, Local Currency Financing is available.
Subject to Care on Location.
Comoros
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | No | Yes | Two |
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Congo
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Congo DR (formerly Zaire)
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Subject to Care on Location.
Cook Islands
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | One |
Costa Rica
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
Cote D’Ivoire
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£500 million to £750 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
For medium/long term business, we are willing to consider Local Currency Financing.
Subject to sustainable lending criteria.
Subject to Care on Location.
Croatia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Cuba
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Contact us | Contact us | Two |
For medium or long term cover, we can only consider providing support for foreign exchange-earning projects.
Curacao
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
Cyprus
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£750 million to £1 billion | Yes | Yes | Two |
Our cover policy applies only to the area under control of the Government of the Republic of Cyprus.
Czech Republic
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
For medium/long term business, Local Currency Financing is available.
Denmark
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
For medium/long term business, Local Currency Financing is available.
Djibouti
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
For medium or long term cover we can consider foreign exchange-earning projects only.
Subject to sustainable lending criteria.
Dominica
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
Normally irrevocable letter of credit or equivalent security for private buyers.
Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.
For medium or long term cover we can consider foreign exchange-earning projects only.
Subject to sustainable lending criteria.
Dominican Republic
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£500 million to £750 million | Yes | Yes | Two |
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
For medium/long term business, Local Currency Financing is available on a case-by-case basis.
Dubai
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
For medium/long term business, we are willing to consider Local Currency Financing.
Ecuador
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
Egypt
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
For medium and long-term business, Local Currency Financing is available.
El Salvador
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
We can also consider business where the CABEI acts as borrower or guarantor.
Equatorial Guinea
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
Normally irrevocable letter of credit or equivalent security for private buyers.
Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Eritrea
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Estonia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | One |
Eswatini (formerly Swaziland)
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£25 million to £50 million | Yes | Yes | Two |
Ethiopia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£150 million to £250 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
weIn view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Falkland Islands
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£10 million to £25 million | Yes | Yes | One |
Faroe Islands
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | One |
Fiji
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£500 million to £750 million | Yes | Yes | Two |
Finland
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
France
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
French Polynesia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | One |
Gabon
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Gambia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Georgia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
Subject to Care on Location.
Germany
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
Ghana
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
There is significant exposure on Ghana, and our capacity for new business is limited. Please contact our Underwriters for the latest position.
Subject to sustainable lending criteria.
For medium/long term business, Local Currency Financing is available.
Gibraltar
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | One |
Greece
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Contact us | One |
Greenland
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | One |
Grenada
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
Normally irrevocable letter of credit or equivalent security for private buyers.
Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Guatamala
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
We can also consider business where the CABEI acts as borrower or guarantor.
Guinea
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Guinea-Bissau
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | No | Not applicable |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Guyana
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | Two |
Subject to sustainable lending criteria.
Subject to Care on Location.
Haiti
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | No | Yes | Two |
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
WeIn view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Honduras
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£500 million to £750 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
We can also consider business where the CABEI acts as borrower or guarantor.
Subject to sustainable lending criteria.
Hong Kong
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Hungary
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
For medium/long term business, Local Currency Financing is available.
Iceland
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | One |
For medium/long term business, Local Currency Financing is available.
India
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Indonesia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Iran
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Contact us | Contact us | Two |
In 2016, UKEF reintroduced cover for Iran in Pounds Sterling and Euros. This is on a case-by-case basis, and allows for contracts of material size (hundreds of millions). We will also consider applications for direct lending.
Iraq
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£750 million to £1 billion | Yes | Yes | Two |
Capacity is limited and it is up to the Government of Iraq to decide which are the priority projects for financing within the cover available.
Subject to Care on Location.
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Ireland
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
Israel
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
For medium/long term business, Local Currency Financing is available.
Italy
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | One |
Jamaica
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£250 million to £500 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
Japan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
Jordan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Kazakhstan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Kenya
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£750 million to £1 billion | Yes | Yes | Two |
Subject to sustainable lending criteria.
Kiribati
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
Subject to sustainable lending criteria.
we areIn view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Kosovo
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
We are not able to offer any cover | No | No | Two |
Kuwait
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Kyrgyzstan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Laos
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£150 million to £250 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Latvia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£3 billion to £4 billion | Yes | Yes | One |
Lebanon
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to Care on Location.
Lesotho
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£100 million to £250 million | Yes | Yes | Two |
Subject to sustainable lending criteria.
Liberia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£25 million to £50 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
For medium or long term business we would consider private sector only.
Subject to sustainable lending criteria.
Libya
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
We are not able to offer any cover | No | No | Not applicable |
Liechtenstein
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | Two |
Lithuania
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£3 billion to £4 billion | Yes | Yes | One |
Luxembourg
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£3 billion to £4 billion | Yes | Yes | One |
Macao
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£3 billion to £4 billion | Yes | Yes | Two |
Madagascar
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Malawi
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Malaysia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Maldives
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Mali
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
Normally irrevocable letter of credit or equivalent security for private buyers.
Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Malta
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
Marshall Islands
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Mauritania
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Mauritius
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available on a case-by-case basis.
Mexico
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
For medium/long term business, Local Currency Financing is available on a case-by-case basis.
Micronesia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Moldova
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Monaco
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
Mongolia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£150 million to £250 million | Yes | Yes | Two |
Montenegro
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£250 million to £500 million | Yes | Yes | Two |
Montserrat
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | One |
Morocco
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available on a case-by-case basis.
Mozambique
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For medium or long term cover we can only consider foreign exchange-earning projects.
Subject to sustainable lending criteria.
Myanmar
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£150 million to £250 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by an irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Namibia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
Nauru
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Yes | Two |
Nepal
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£250 million to £500 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Subject to Care on Location.
Netherlands
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
New Zealand
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
Nicaragua
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£150 million to £250 million | Yes | Yes | Two |
Subject to sustainable lending criteria.
We can also consider business where the CABEI acts as borrower or guarantor.
Niger
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
Normally irrevocable letter of credit or equivalent security for private buyers.
Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Nigeria
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£750 million to £1 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available on a case-by-case basis.
Subject to Care on Location.
Niue
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | One |
North Korea
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
We are not able to offer any cover | No | No | Not applicable |
North Macedonia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£750 million to £1 billion | Yes | Yes | Two |
North Mariana Islands
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | One |
Norway
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
For medium/long term business, Local Currency Financing is available.
Oman
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£150 million to £250 million | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Pakistan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£750 million to £1 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available on a case-by-case basis.
Palau
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
Palestinian Authority
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
We are not able to offer any cover | No | No | Not applicable |
Panama
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
For medium/long term business, Local Currency Financing is available.
Papua New Guinea
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£250 million to £500 million | Yes | Yes | Two |
Subject to sustainable lending criteria.
Paraguay
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
For medium/long term business, we are willing to consider Local Currency Financing.
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
Peru
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£3 billion to £4 billion | Yes | Yes | Two |
We can also consider business in Peru where the CAF acts as borrower or guarantor.
For medium/long term business, Local Currency Financing is available.
Philippines
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Poland
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
For medium/long term business, Local Currency Financing is available.
Portugal
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
Puerto Rico
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | One |
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Qatar
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Romania
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£3 billion to £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Russian Federation
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
For medium/long term business, Local Currency Financing is available.
Rwanda
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£250 million to £500 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Samoa
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
San Marino
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | Two |
Sao Tome and Principe
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by Confirmed irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Saudi Arabia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Senegal
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£500 million to £750 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by Confirmed irrevocable letter of credit or equivalent security.
For medium/long term business, we are willing to consider Local Currency Financing.
Subject to sustainable lending criteria.
Serbia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available on a case-by-case basis.
Seychelles
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | Two |
Sierra Leone
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Singapore
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Sint Maarten
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
Slovakia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
Slovenia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£3 billion to £4 billion | Yes | Yes | One |
Solomon Islands
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
Subject to sustainable lending criteria.
Somalia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
We are not able to offer any cover | No | No | Not applicable |
South Africa
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
South Korea
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
For medium/long term business, Local Currency Financing is available.
South Sudan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
We are not able to offer any cover | No | No | Two |
Spain
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
Sri Lanka
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£500 million to £750 million | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available on a case-by-case basis.
St Helena
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£10 million to £25 million | Yes | Yes | One |
St Kitts and Nevis
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
Normally irrevocable letter of credit or equivalent security for private buyers.
Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
St Lucia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | Two |
Subject to sustainable lending criteria.
St Pierre and Miquelon
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£10 million to £25 million | Yes | Yes | One |
St Vincent and the Grenadines
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£25 million to £50 million | Yes | Yes | Two |
Subject to sustainable lending criteria.
Sudan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
We are not able to offer any cover | No | No | Not applicable |
Suriname
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Case by case | Yes | Yes | Two |
Subject to Care on Location.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Sweden
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
For medium/long term business, Local Currency Financing is available.
Switzerland
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
For medium/long term business, Local Currency Financing is available.
Syria
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
We are not able to offer any cover | No | No | Not applicable |
Taiwan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Tajikistan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£10 million to £25 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
We would prefer asset based finance or foreign exchange earning projects.
Subject to sustainable lending criteria.
we areIn view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Tanzania
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£500 million to £750 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Subject to Care on Location.
Thailand
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Timor l’Este
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£25 million to £50 million | Yes | Yes | Two |
Subject to sustainable lending criteria.
Togo
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£250 million to £500 million | Yes | Yes | Two |
Normally irrevocable letter of credit or equivalent security for private buyers.
Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.
For medium or long term cover we can consider foreign exchange-earning projects only.
Subject to sustainable lending criteria
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Tonga
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Trinidad and Tobago
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
For medium/long term business, Local Currency Financing is available.
Tunisia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
For medium/long term business, we are willing to consider Local Currency Financing.
Turkey
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Turkmenistan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£500 million to £750 million | Yes | Yes | Two |
For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Turks and Caicos Islands
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£25 million to £50 million | Yes | Yes | One |
Tuvalu
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
We would need to conduct a country review to consider any cover.
Subject to sustainable lending criteria.
In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country we are unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.
Uganda
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£250 million to £500 million | Yes | Yes | Two |
Subject to sustainable lending criteria.
For medium/long term business, Local Currency Financing is available.
Ukraine
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
United Arab Emirates (UAE)
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | Two |
Our market risk appetite for United Arab Emirates is shared with Abu Dhabi but not Dubai, which has its own country limit.
For medium/long term business, Local Currency Financing is available.
United States (USA)
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
At least £4 billion | Yes | Yes | One |
Uruguay
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£3 billion to £4 billion | Yes | Yes | Two |
We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
For medium/long term business, Local Currency Financing is available.
Uzbekistan
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£1 billion to £2 billion | Yes | Yes | Two |
Subject to sustainable lending criteria.
Vanuatu
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
Subject to sustainable lending criteria.
Vatican City
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Less than £10 million | Yes | Yes | Two |
Venezuela
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
We are willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
Vietnam
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£2 billion to £3 billion | Yes | Yes | Two |
For medium/long term business, Local Currency Financing is available.
Virgin Islands (US)
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
£50 million to £100 million | Yes | Yes | One |
Yemen
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
We are not able to offer any cover | No | No | Not applicable |
Zambia
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
Contact us | Contact us | Contact us | Two |
For cash or short term cover we would expect payments to be secured by an irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Zimbabwe
Market risk appetite | Cash or short term cover | Medium or long term cover | Consensus category |
---|---|---|---|
We are not able to offer any cover | No | No | Not applicable |
Definitions
Cash or short term cover
The EU State Aid temporary framework is supporting economies in the context of the coronavirus (COVID-19) outbreak. In addition to our usual market criteria, we can now also support credit insurance business with a horizon of risk of less than 24 months in all EU member states, Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland and the USA. This applies during the transition period.
Care on location
Those countries where there may be regional, ethnic or religious tensions, border disputes/conflict with neighbouring countries which may give rise to additional risks depending on where projects are located. We will need to take into account the location of the project in deciding whether or not support can be provided.
Consensus category (used in the cover indicator table)
Countries are classified under the Organisation for Economic Co-operation and Development (OECD) Arrangement on Officially Supported Export Credits which determines the maximum repayment terms.
Category One – maximum credit period is normally 8.5 years
Category Two – maximum credit period is normally 10 years
However, longer maximum repayment terms may be considered for large civil aircraft, nuclear and non-nuclear power stations, ships, renewable energies and water projects and projects where the cashflows generated will be used to repay the export credit loans.
Foreign exchange-earning projects
Projects which earn foreign exchange income. In certain circumstances it may be possible to provide support for such projects in countries where UKEF cover is not normally available.
Horizon of risk
The total length of time an ECA could be at risk for a contract. This is usually the total period from date of contract to final payment under that contract.
Letters of credit
A letter of credit is an undertaking by a bank to make a payment to a named beneficiary within a specified time, against the presentation of documents which comply strictly with the terms of the letter of credit. There are different types of letter of credit including irrevocable letter of credit (ILC) and confirmed irrevocable letter of credit (CILC).
Market risk appetite
The total amount of risk exposure we would be willing to support for new business in a particular country or territory. For foreign exchange earning projects with robust financing structures and strong risk mitigants, We may be able to exceed the market risk appetite specified. ECA’s make these decisions on a case by case basis.
Medium or long term cover
Where the credit terms are longer than 2 years.
Public or private sector
The status of an entity. Public sector entities are usually government departments, or organisations owned by the State. Private sector entities are businesses owned by private individuals or organisations.
Sustainable lending
For certain poor countries we can only support exports and investments which meet sustainable lending criteria. The export or investment must be expected to assist in the social and economic development of the country or territory, without adversely affecting its underlying debt sustainability position.