Question to the Department for International Trade:

To ask the Secretary of State for International Trade, what proportion of applications for loans from UKEF to support exports to Mongolia are successful; and what interest rate is applied to those loans.

In the last eight years, UK Export Finance (UKEF) has received three applications for support for UK exports to Mongolia. After applying its regular due diligence process, UKEF found one (i.e. 33%) of these applications eligible and provided support.

UKEF does not disclose premium rates for reasons of commercial sensitivity.

UKEF has between £1 and £2 billion of market risk appetite available to support exports to Mongolia, and welcomes applications.