UK Export Finance (UKEF), the UK's export credit agency, has increased the capacity of market risk appetite to £3 billion for Georgia this year which is the total amount of risk exposure the agency be willing to support for new businesses in Georgia.
Risk exposure is the measure of potential future loss resulting from a specific activity or event.
This additional support will help companies to access finance for projects, opening up new and exciting trade opportunities,” UK Minister for European Neighbourhood Wendy Morton on her twitter account.
Great news for UK & Georgian businesses: @UKEF has more than doubled its capacity for Georgia to more than £3 billion this year. This additional support will help companies to access finance for projects, opening up new & exciting trade opportunities. #Wardrop— Wendy Morton MP (@morton_wendy) September 9, 2020
Georgian Foreign Minister Davit Zalkaliani expressed his gratitude to the UK Export Finance (UKEF) ‘for encouraging economic opportunity and prosperity in Georgia’.
Our gratitude to UKEF for encouraging economic opportunity and prosperity in Georgia. Appreciate UKEF’s contribution and endeavor to help Georgian businesses succeed and achieve their full potential @morton_wendy https://t.co/Socg8RRqOh— David Zalkaliani (@DZalkaliani) September 9, 2020
UK Export Finance ‘helps UK companies of all sizes and in all sectors win, fulfil and get paid for export contracts’.
Georgian Foreign Minister David Zalkaliani and UK Minister for European Neighbourhood Wendy Morton discussed yesterday how Georgia and the UK can strengthen their partnership in terms of defence, security, trade and culture.
The virtual meeting was held in the framework of the Wardrop Strategic Dialogue, which was first initiated by former Foreign Secretary William Hague during his visit to Tbilisi in 2014.