UK Export Finance and Export Finance Australia deepen co-operation

25 Dec '23

2 min read

Pic: Adobe Stock

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UK Export Finance (UKEF) and Export Finance Australia (EFA) have signed an MoU to enhance cooperation in energy transition, infrastructure, and supply chains.
The MoU follows their joint financing of the Hai Long Offshore Wind Project.
It aims to boost trade and investment opportunities in the Indo-Pacific, strengthening ties and enabling joint financings.

UK Export Finance (UKEF) and Export Finance Australia (EFA) have signed a Memorandum of Understanding (MoU) enhancing co-operation in areas of mutual interest. The MoU builds on UKEF and EFA’s existing strong relationship and will enable the agencies to deepen collaboration in areas such as the energy transition, infrastructure and growing secure supply chains, UKEF said in a statement.

The signing of the MoU follows UKEF and EFA participating in the financing of the Hai Long Offshore Wind Power Project in Taiwan, UKEF and EFA’s largest renewable energy project financings to date.

“The signing of the MoU on the anniversary of the Australia-United Kingdom Free Trade Agreement (A-UKFTA) signified the deep commitment between the United Kingdom and Australia to boost the enormous trading potential between the two nations, and seek out new investment opportunities in the Indo-Pacific,” UKEF chief executive Tim Reid said.

“Export credit agencies are a force for good in their own right, so when we come together it means we can unlock even greater opportunities for British businesses and economic growth. UKEF is committed to strengthening ties with our partners like EFA to do just that,” added Reid.

“EFA and UKEF share many interests such as Indo-Pacific infrastructure, critical minerals and defence. This MoU builds on our existing strong relationship and will see more frequent engagement, enhanced working level exchanges and joint financings,” said EFA managing director and CEO John Hopkins.

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