Ford has received a £500m ($648m) guarantee from UK Export Finance (UKEF) to help it maintain exports of engines and transmissions from the UK. The guarantee, which was given in July, is part of a planned £625m loan facility from commercial banks using its Export Development Guarantee…
Ford has received a £500m ($648m) guarantee from UK Export Finance (UKEF) to help it maintain exports of engines and transmissions from the UK. The guarantee, which was given in July, is part of a planned £625m loan facility from commercial banks using its Export Development Guarantee.
UK Export Finance is the UK’s export credit agency, which was set up by the government to support UK based companies exporting goods with finance or insurance from the private market. The loan will be welcome news for Ford in the UK given the economic impact of the coronavirus on manufacturing and supply of parts and vehicles, and in light of the UK’s exit from the European Union at the beginning of 2021.
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