Source · Select Committees · Public Accounts Committee
Recommendation 24
24
As it currently stands, UKEF confirmed to us that businesses who use banks other than...
Conclusion
As it currently stands, UKEF confirmed to us that businesses who use banks other than the five with UKEF delegated authority, cannot benefit from this streamlined process. UKEF told us that it planned to expand the number of other banks that can apply for its products using an online portal ‘shortly’. First, they wish to establish the system with the existing five banks and create a single set of standard documentation.54 49 Q 68 50 Environmental Audit Committee, Nineteenth Report of Session 2017–19, UK Export Finance, para 6. 51 C&AG’s report, para 2.41 52 Federation of Small Businesses, 11 September 2020, para 10. 53 C&AG’s Report, paras 20, 2.41. 54 Qq 78, 79 16 Government support for UK exporters