{"id":62053,"date":"2015-09-24T10:30:00","date_gmt":"2015-09-24T10:30:00","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=f7eff2b242cfd6a8a1eb0aacc25e14b0"},"modified":"2015-09-24T10:30:00","modified_gmt":"2015-09-24T10:30:00","slug":"press-release-prime-minister-welcomes-export-framework-with-general-electric","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=62053","title":{"rendered":"Press release: Prime Minister welcomes export framework with General Electric"},"content":{"rendered":"<div class=\"govspeak\">\n<p>The memorandum of understanding was signed at Downing Street by <abbr title=\"General Electric\">GE<\/abbr> and UK Export Finance (<abbr title=\"UK Export Finance\">UKEF<\/abbr>), the UK\u2019s export credit agency. The cooperation framework on exports from the UK by <abbr title=\"General Electric\">GE<\/abbr> could support up to 1,000 new <abbr title=\"General Electric\">GE<\/abbr> jobs in the UK energy sector.  <\/p>\n<p>The memorandum sets out a range of ways in which the signatories aim to co-operate. Under the framework, <abbr title=\"UK Export Finance\">UKEF<\/abbr>:<\/p>\n<ul>\n<li>confirms appetite and capacity to consider providing financing support for more than \u00a37.7 billion worth of projects under consideration, plus a new \u2018top-up\u2019 support facility of up to \u00a3500 million, subject to individual project approval and due diligence<\/li>\n<li>confirms that <abbr title=\"General Electric\">GE<\/abbr> has been approved to be a member of its <a href=\"https:\/\/www.gov.uk\/guidance\/direct-lending-scheme\">Direct Lending Facility Partnership Panel<\/a>, whose members arrange UK government loans to overseas buyers of UK exports<\/li>\n<\/ul>\n<p>Under the framework, <abbr title=\"General Electric\">GE<\/abbr>:<\/p>\n<ul>\n<li>pledges ongoing support for its UK supply chain<\/li>\n<li>undertakes to promote <abbr title=\"UK Export Finance\">UKEF<\/abbr>\u2019s exporter support schemes to its UK supply base<\/li>\n<\/ul>\n<p><abbr title=\"General Electric\">GE<\/abbr> is already one of the leading investors into the UK, operating in more than 60 locations including 40 manufacturing facilities. The company has invested \u00a314 billion into the UK since 2003, generating UK exports to more than 50 countries.<\/p>\n<p>Future business  to be considered under the new framework  includes solar, power generation and oil and gas related export opportunities in Brazil, Egypt, India and Sub-Saharan Africa.<\/p>\n<h2 id=\"the-prime-minister-david-cameron-said\">The Prime Minister David Cameron said:<\/h2>\n<blockquote>\n<p>We are doing everything we can to make Britain the best place in Europe to start, finance or grow a business and <abbr title=\"General Electric\">GE<\/abbr>\u2019s substantial commitment through this agreement is fantastic news.<\/p>\n<p class=\"last-child\">It will provide jobs and security for people working in the energy sector and elsewhere. It is a vote of confidence in our long term economic plan.<\/p>\n<\/blockquote>\n<h2 id=\"jeff-immelt-chairman-and-ceo-ge-said\">Jeff Immelt, Chairman and CEO, <abbr title=\"General Electric\">GE<\/abbr> said:<\/h2>\n<blockquote>\n<p>Export finance is a critical tool we use to support our customers.  In today\u2019s competitive environment, countries that have a strong Export Credit Agency (ECA) will attract investment.<\/p>\n<p class=\"last-child\">We are fortunate to have the support of UK Export Finance (<abbr title=\"UK Export Finance\">UKEF<\/abbr>) &#8211; one of the most flexible ECAs in the world.  The UK is pro-export and pro-manufacturing.<\/p>\n<\/blockquote>\n<h2 id=\"david-godfrey-chief-executive-uk-export-finance-said\">David Godfrey, Chief Executive, UK Export Finance said:<\/h2>\n<blockquote>\n<p>I warmly welcome this exciting series of partnership opportunities with <abbr title=\"General Electric\">GE<\/abbr>. <abbr title=\"UK Export Finance\">UKEF<\/abbr> is proud to be viewed as one of the most responsive and innovative export credit agencies in the world, as this new <abbr title=\"General Electric\">GE<\/abbr> framework demonstrates.<\/p>\n<p class=\"last-child\">It is a good example of the many new opportunities for multinational companies operating out of the UK to work with us.<\/p>\n<\/blockquote>\n<p>\u2013 ENDS \u2013<\/p>\n<h2 id=\"notes-for-editors\">Notes for Editors<\/h2>\n<ol>\n<li>\n<p><a href=\"https:\/\/www.gov.uk\/government\/organisations\/uk-export-finance\">UK Export Finance<\/a> is the UK\u2019s export credit agency. It supports long term economic growth and competitiveness by complementing the private market with insurance for exporters, loan guarantees to banks, and support for and provision of loans to overseas buyers of UK goods and services.<\/p>\n<\/li>\n<li>\n<p>Sectors in which <abbr title=\"UK Export Finance\">UKEF<\/abbr> has supported exports include: aerospace, construction, oil and gas, mining and metals, petrochemicals, telecommunications, and transport.<\/p>\n<\/li>\n<li>\n<p><abbr title=\"UK Export Finance\">UKEF<\/abbr> has a <a href=\"https:\/\/www.gov.uk\/government\/publications\/uk-regional-export-finance-advisors\">regional network of 24 export finance advisers<\/a> supporting UK firms.<\/p>\n<\/li>\n<li>\n<p><abbr title=\"UK Export Finance\">UKEF<\/abbr> works in partnership with <a href=\"https:\/\/www.gov.uk\/government\/organisations\/uk-trade-investment\">UK Trade &amp; Investment<\/a> as part of a cross-government effort to boost exports.<\/p>\n<\/li>\n<li>\n<p><abbr title=\"UK Export Finance\">UKEF<\/abbr> supports exporters with <a href=\"https:\/\/www.gov.uk\/government\/collections\/uk-export-finance-products-and-services\">a range of products<\/a> that include: <\/p>\n<\/li>\n<\/ol>\n<ul>\n<li>Bond support scheme<\/li>\n<li>Buyer &amp; supplier credit financing facility<\/li>\n<li>Direct lending facility <\/li>\n<li>Export insurance policy<\/li>\n<li>Export refinancing facility<\/li>\n<li>Export working capital scheme<\/li>\n<li>Letter of credit guarantee scheme<\/li>\n<\/ul>\n<div class=\"contact \" id=\"contact_1093\">\n<div class=\"content\">\n<h3>Media enquiries: Dan Jellinek, Media Relations Manager<\/h3>\n<div class=\"vcard contact-inner\">\n<div class=\"email-url-number\">\n<p class=\"email\">\n              <span class=\"type\">Email<\/span><br \/>\n              <a class=\"email\" href=\"mailto:dan.jellinek@ukef.gsi.gov.uk\">dan.jellinek@ukef.gsi.gov.uk<\/a>\n            <\/p>\n<p class=\"tel\">\n              <span class=\"type\">Telephone<\/span><br \/>\n              07580 586910 or out-of-hours: 020 7215 3505\n            <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prime Minister David Cameron has welcomed a co-operation framework between US multinational GE and the UK government to support new UK investment, jobs and exports.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/62053"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62053"}],"version-history":[{"count":1,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/62053\/revisions"}],"predecessor-version":[{"id":62070,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/62053\/revisions\/62070"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}