Chancellor George Osborne and Treasury Secretary Danny Alexander announced a £5bn Export Guarantee Facility on Wednesday as part of a £50bn investment to boost the UK economy.
The £5bn facility will underwrite short-term loans to overseas buyers of UK exports and will be up and running towards the end of 2012. This new mechanism will counter poor access to finance preventing foreign businesses purchasing UK-made goods. Foreign banks will now have more faith in business plans requiring loans to purchase goods and…
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