United Kingdom Export Finance (UKEF), an arm of the UK Government that works as an export credit agency, has named Ecobank Nigeria as one of its partnering financial institutions to help deliver £3 billion Direct Lending Facility (DLF) support to UK exporters.
Under the DLF, UKEF will provide loans to overseas buyers in order to finance the purchase of goods and services from UK exporters. Loans are available to cover new international sales by any business exporting from the UK, to any country where UKEF medium term cover is available, and can be made in pounds sterling, dollars, Euro or Japanese Yen.
Some of the other selected 20 financial institutions include Citibank, Bank of China, Barclays Bank Group, Deutsche Bank; JPMorgan Chase Bank Group; The Royal Bank of Scotland Group; and Lloyds Banking Group, among others. Ecobank is the only selected Nigerian financial institution.
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