Question to the Department for International Trade:

To ask the Secretary of State for International Trade, whether her Department undertook an assessment of potential conflicts of interest before awarding Wrightbus £26 million in UK Export Finance-backed funding.

UK Export Finance (UKEF) does not invest equity or provide funding into projects. The support it provides is in the form of insurance or guarantees for loans from commercial lenders.

UKEF considers all applications for support on their respective merits based on objective criteria. Any support given is provided on commercial terms, generating a return for the UK taxpayer.

UKEF applies rigorous due diligence processes before providing support for any transaction.

As is usual with such applications, there was no ministerial involvement in UKEF’s decision to support this transaction, which is driving growth and creating high-skilled green jobs in Northern Ireland.