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Fossil Fuels: Export Credit Guarantees

Question for Department for International Trade

UIN 117228, tabled on 18 November 2020

To ask the Secretary of State for International Trade, how many fossil fuel projects UK Export Finance has plans to finance in the 12 months; and where those projects will be located.

Answered on

30 November 2020

UK Export Finance (UKEF) is obliged to consider all requests for its support. These requests can be made, and subsequently withdrawn, at any time.

When considering a request for support, UKEF conducts extensive due diligence, including environmental, social, and human rights due diligence and consideration of climate change, to understand the risk it is being asked to take. There are various reasons why an application to UKEF might not result in support being provided, or, if support is offered, why delays in providing that support might arise. All these factors make determining when UKEF support may, or even will be provided difficult and imprecise.

UKEF is currently considering requests for support for 6 projects involving fossil fuels which may be supported in the next twelve months. UKEF has also received a further 10 applications for trade finance cover in the sector and two applications from companies involved in the sector for support from the Export Development Guarantee which is not linked to any particular project. It is possible that not all these transactions will be concluded within the next 12 months, or indeed in subsequent years.

Those projects are in the following countries:

Algeria

1

Azerbaijan

2

Brazil

2

Canada

1

China

2

Egypt

1

Iraq

1

Italy

1

Malaysia

2

Thailand

1

Turkey

1

Turkmenistan

1

Answered by

Department for International Trade