Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, pursuant to the Answer of 13 March 2024 to Question 17476 on INEOS: Belgium, what exports that funding will support.

UK Export Finance (UKEF) does not provide direct funding. It issued a guarantee to commercial lenders to help secure new export opportunities for the UK.

UKEF’s support is conditional on the inclusion of UK goods and services in the project and therefore secures export opportunities that might not otherwise have happened, both from businesses directly contracted by INEOS, and others in their supply chains.