# Support £12.5bn of new export contracts by 2029

> “By 2029, UKEF aims to support UK firms to win over £12.5 billion of new export contracts through its export finance offer.”
>
> — HM Government; Press release (UK Export Finance), 15 October 2026

- **Status:** Promised
- **Status ladder:** Promised → In plan → Legislated → Funded → Delivering → Delivered
- **Policy area:** [Transport & economy](https://ledgergov.uk/promises/area/transport-and-economy)
- **Speaker:** [HM Government](https://ledgergov.uk/actor/hm-government)
- **Made on:** 15 October 2026
- **Where:** Press release (UK Export Finance)
- **Deadline:** 31 December 2029
- **Cost a year:** No costing published
- **Who it affects:** UK firms that export, through UK Export Finance's loans, guarantees and insurance
- **When:** By 2029
- **Paid for by:** Not stated when it was announced
- **Quote source:** https://www.gov.uk/government/news/exeter-self-driving-boat-manufacturer-goes-overseas-with-government-backed-finance (checked word for word at its source on 18 October 2026; Open Government Licence v3.0)
- **Last updated:** 19 October 2026
- **Card:** https://ledgergov.uk/promise/uk-ukef-export-contracts-2029

## Where it stands

UK Export Finance (UKEF) is the government's export credit agency. The release, about a £150,000 trade loan to an Exeter boat maker, says UKEF provided over £11 billion in loans, guarantees and insurance in the last financial year; it does not say from when contracts count towards the £12.5 billion. 2029 is read as the end of 2029. The card moves when UKEF reports the value of contracts it has supported.

## Timeline

- 15 October 2026, Promised: UK Export Finance says it aims to support UK firms to win over £12.5 billion of new export contracts by 2029
- 31 December 2029, Deadline (to come): Over £12.5 billion of new export contracts supported by UK Export Finance due by 2029

## About the cost

The £12.5 billion is the value of export contracts UK firms win, not public spending. No cost has been published.

## Sources

- [UK Export Finance press release, 15 Oct 2026: Exeter self-driving boat manufacturer goes overseas with government-backed finance](https://www.gov.uk/government/news/exeter-self-driving-boat-manufacturer-goes-overseas-with-government-backed-finance)

## Checks

- Verified by Pavel Guzhikov, checked by AI Journalist; approved on 19 October 2026.
- Checked by AI Journalist (automated) on 18 October 2026.

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