To ask the Secretary of State for International Trade, whether UK Export Finance is contributing to the agreed financing contracts for the Mozambique LNG Project; what the value is of export credits granted to that project; and if she will make a statement.
20 July 2020
UK Export Finance (UKEF) has agreed to provide up to US$1.15bn of export finance support for UK exporters, as part of the design, construction and operation of a liquified natural gas (LNG) project in Mozambique. UKEF support is in the form of up to $300m of direct loans, and up to $850m in guarantees to the commercial banks providing lending.
The UKEF-supported element will support multiple UK businesses across the UK, including small and medium-sized enterprises, and in excess of 2,000 UK jobs.
The Project will generate significant revenue for Mozambique and be transformational for Mozambique’s economic and social development.