Mission and Principles
This page explains what UK Export Finance does, our Mission and Principles and the legislation (statutory powers) that govern us.
On this page:
What we do
UK Export Finance is the operating name of the Export Credits Guarantee Department (ECGD), the United Kingdom’s export credit agency. It was created in 1919 and was the world’s first export credit agency.
We work closely with exporters, banks, buyers and project sponsors and have 90 years’ experience of supporting exports to, and investments in, markets across the world. We do this by providing guarantees, insurance and reinsurance against loss, taking into account the government’s international policies.
Mission and Principles
Who UK Export Finance is
UK Export Finance is the export credit agency of the United Kingdom and is a Government Department that operates under an Act of Parliament.
What UK Export Finance does
UK Export Finance complements the private market by providing assistance to exporters and investors, principally in the form of insurance and guarantees to banks.
How UK Export Finance operates
UK Export Finance is governed by its statute pursuant to which certain financial objectives are set by HM Treasury. It is UK Export Finance's policy to comply with all International Agreements which apply to the operations of Export Credit Agencies.
The principles UK Export Finance applies
On individual cases, UK Export Finance aims to:
- provide a quality of service that is proactive, flexible and efficient, with a focus on solution and innovation;
- take account of factors beyond the purely financial, and of relevant government policies, in respect of environmental, social and human rights impacts; debt sustainability and bribery and corruption; and
- publish, for the benefit of applicants, guidance on processes and factors taken into account by it in considering applications.
Generally, UK Export Finance aims to:
- disseminate information about its products and services;
- achieve fairer competition by seeking to establish a level playing field internationally, through obtaining multilateral improvements in export credit policies and practices;
- recover the maximum amount of debt in respect of claims paid taking account of the Government’s policy on debt forgiveness;
- abide by such codes of practice and guidelines on consultation as may be published by the Government from time to time; and
- employ good management practice to recruit, develop and retain the people needed to achieve UK Export Finance’s business goals and objectives.
Go to our annual report to parliament, which you can find on the right hand side of this page, to see reviews of our performance against these objectives, and other strategic goals.
Legislation
The Export Credits Guarantee Department’s statutory powers are set out in the Export and Investment Guarantees Act 1991 (as amended by the Industry and Exports (Financial Support) Act 2009). Go to the Office of Public Sector Information website, which you can find on the right hand side of this page, to read the Acts in full.
Read the quick guide to UK Export Finance, which you can find on the right hand side of this page, for more information on what we do, the services we provide, what we do not do, our products and advice on whether we can help you.
