Guidance

Cover policy and indicators

Find out about cover policy and indicators for countries and territories that are covered by UK Export Finance.

The EU State Aid temporary framework is supporting economies in the context of the coronavirus (COVID-19) outbreak.

In addition to our usual market criteria, we can now also support credit insurance business with a horizon of risk of less than 24 months in all EU member states, Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland and the USA. This applies during the transition period.

Below you can find an indication of our current cover policy and risk appetite for each country or territory. The information is for guidance only. The details given here may change at any time, and no commitment on our part can be assumed or inferred. The information given in no way commits us to providing cover for a particular contract.

Market Risk Appetite

For foreign exchange earning projects with robust financing structures and strong risk mitigants, UKEF may be able to exceed the market risk appetite specified. We make these decisions on a case by case basis.

The cover indications are not indicative of the nature of the risks of doing business in any individual country or territory. They should not be taken to mean that doing business in the country or territory in question is risk free, and you should carry out your own due diligence.

You should contact our customer service team if you:

  • have a business enquiry
  • want more information
  • want to find out where overseas investment insurance cover may be available
  • wish to find out more about our cover position on any country or territory

Customer service

A to Z list of country or territory cover policies and indicators

Afghanistan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy We are not able to offer any cover No No Not applicable

Albania

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

Algeria

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

American Samoa

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us One

We would need to conduct a country review to consider any medium or long-term cover.

Andorra

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £250 million to £500 million Yes Yes Two

Angola

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

Anguilla

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us One

We would need to conduct a country review to consider any medium or long-term cover.

Antigua and Barbuda

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Argentina

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Contact us Contact us Contact us Contact us

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.

Armenia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to Care on Location.

For medium/long term business, we are willing to consider Local Currency Financing.

Aruba

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £500 million to £750 million Yes Yes Two

Australia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

For medium/long term business Local Currency Financing is available.

Austria

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Azerbaijan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £3 billion to £4 billion Yes Yes Two

Subject to Care on Location.

Bahamas

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £500 million to £750 million Yes Yes Two

Bahrain

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £3 billion to £4 billion Yes Yes Two

For medium/long term business, we are willing to consider Local Currency Financing.

Bangladesh

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

Subject to sustainable lending criteria.

Barbados

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Belarus

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

Belgium

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Belize

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.

Benin

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium/long term business, we are willing to consider Local Currency Financing.

Subject to sustainable lending criteria.

Subject to Care on Location.

Bermuda

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £750 million to £1 billion Yes Yes One

Bhutan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £500 million to £750 million Yes Yes Two

For medium or long term cover we can only consider providing support for exports to private sector buyers.

Subject to sustainable lending criteria.

Bolivia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Bosnia and Herzegovina

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For medium or long term cover we can only consider providing support for exports to private sector buyers.

Botswana

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Brazil

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available.

Brunei Darussalam

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

Bulgaria

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Burkino Faso

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For medium/long term business, we are willing to consider Local Currency Financing.

Subject to Care on Location.

Subject to sustainable lending criteria.

Burundi

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy We are not able to offer any cover No No Not applicable

Cambodia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by an irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Cameroon

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For medium/long term business, we are willing to consider Local Currency Financing.

Subject to sustainable lending criteria.

Canada

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

For medium/long term business, Local Currency Financing is available.

Cape Verde

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £250 million to £500 million Yes Yes Two

Subject to sustainable lending criteria.

Cayman Islands

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £250 million to £500 million Yes Yes One

Central African Republic

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes No Not applicable

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

Chad

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Chile

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available.

China

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Colombia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available.

Subject to Care on Location.

We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.

Comoros

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case No Yes Two

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Congo

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Congo DR (formerly Zaire)

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Subject to Care on Location.

Cook Islands

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us One

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We would need to conduct a country review to consider any medium or long-term cover.

Costa Rica

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Cote D’Ivoire

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium/long term business, we are willing to consider Local Currency Financing.

Subject to sustainable lending criteria.

Subject to Care on Location.

Croatia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Cuba

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Contact us Contact us Two

For medium or long term cover, we can only consider providing support for foreign exchange-earning projects.

We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.

Curacao

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Contact us Contact us Two

We would need to conduct a country review to consider any cover.

Cyprus

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

UKEF’s cover policy applies only to the area under control of the Government of the Republic of Cyprus.

Czech Republic

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

For medium/long term business, Local Currency Financing is available.

Denmark

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

For medium/long term business, Local Currency Financing is available.

Djibouti

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can consider foreign exchange-earning projects only.

Subject to sustainable lending criteria.

Dominica

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can consider foreign exchange-earning projects only.

Subject to sustainable lending criteria.

Dominican Republic

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.

Dubai

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

For medium/long term business, we are willing to consider Local Currency Financing.

Ecuador

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Egypt

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £750 million to £1 billion Yes Yes Two

For medium and long-term business, Local Currency Financing is available.

El Salvador

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

We can also consider business where the CABEI acts as borrower or guarantor.

Equatorial Guinea

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Eritrea

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Estonia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Eswatini (formerly Swaziland)

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £500 million to £750 million Yes Yes Two

Ethiopia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion - £2 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Falkland Islands

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £25 million to £50 million Yes Yes One

Faroe Islands

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us One

We would need to conduct a country review to consider any medium or long-term cover.

Fiji

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £500 million to £750 million Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Finland

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

France

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

French Polynesia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us One

We would need to conduct a country review to consider any medium or long-term cover.

Gabon

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Gambia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Georgia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £3 billion to £4 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

Subject to Care on Location.

Germany

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Ghana

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £750 million to £1 billion Yes Yes Two

Subject to sustainable lending criteria.

For medium/long term business, Local Currency Financing is available.

Gibraltar

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us One

We would need to conduct a country review to consider any medium or long-term cover.

Greece

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes One

Greenland

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes One

We would need to conduct a country review to consider any medium or long-term cover.

Grenada

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Guatamala

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

We can also consider business where the CABEI acts as borrower or guarantor.

Guinea

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Guinea-Bissau

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes No Not applicable

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Guyana

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £500 million to £750 million Yes Yes Two

Subject to sustainable lending criteria.

Subject to Care on Location.

Haiti

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case No Yes Two

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Honduras

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We can also consider business where the CABEI acts as borrower or guarantor.

Subject to sustainable lending criteria.

Hong Kong

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Hungary

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

For medium/long term business, Local Currency Financing is available.

Iceland

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes One

For medium/long term business, Local Currency Financing is available.

India

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Indonesia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Iran

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Contact us Contact us Contact us Two

In 2016, UKEF reintroduced cover for Iran in Pounds Sterling and Euros. This is on a case-by-case basis, and allows for contracts of material size (hundreds of millions). UKEF will also consider applications for direct lending.

Iraq

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

Capacity is limited and it is up to the Government of Iraq to decide which are the priority projects for financing within the cover available.

Subject to Care on Location.

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Ireland

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Israel

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

For medium/long term business, Local Currency Financing is available.

Italy

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Jamaica

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Japan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Jordan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Kazakhstan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Kenya

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

Subject to sustainable lending criteria.

Kiribati

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Contact us Contact us Two

Subject to sustainable lending criteria.

We would need to conduct a country review to consider any cover.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Kosovo

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy We are not able to offer any cover No No Two

Kuwait

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Kyrgyzstan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us Two

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

We would need to conduct a country review to consider any medium or long-term cover.

Subject to sustainable lending criteria.

Laos

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Latvia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Lebanon

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to Care on Location.

Lesotho

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £500 million to £750 million Yes Yes Two

Subject to sustainable lending criteria.

Liberia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We would need to conduct a country review to consider any medium or long-term cover.

Subject to sustainable lending criteria.

Libya

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy We are not able to offer any cover No No Not applicable

Liechtenstein

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £500 million to £750 million Yes Yes Two

Lithuania

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Luxembourg

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Macao

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

Madagascar

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Malawi

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Malaysia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Maldives

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Mali

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us Two

Normally irrevocable letter of credit or equivalent security for private buyers.

Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We would need to conduct a country review to consider any medium or long-term cover.

Subject to sustainable lending criteria.

Malta

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

Marshall Islands

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Contact us Contact us Two

Subject to sustainable lending criteria.

We would need to conduct a country review to consider any cover.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Mauritania

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Mauritius

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

Mexico

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.

Micronesia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Contact us Contact us Two

Subject to sustainable lending criteria.

We would need to conduct a country review to consider any cover.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Moldova

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us Two

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

We would need to conduct a country review to consider any medium or long-term cover.

Subject to sustainable lending criteria.

Monaco

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

Mongolia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

Montenegro

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £500 million to £750 million Yes Yes Two

Montserrat

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us One

We would need to conduct a country review to consider any medium or long-term cover.

Morocco

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

Mozambique

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider foreign exchange-earning projects.

Subject to sustainable lending criteria.

Myanmar

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by an irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Namibia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

Nauru

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us Two

We would need to conduct a country review to consider any medium or long-term cover.

Nepal

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Subject to Care on Location.

Netherlands

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

New Zealand

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Nicaragua

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

Subject to sustainable lending criteria.

We can also consider business where the CABEI acts as borrower or guarantor.

Niger

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us Two

Normally irrevocable letter of credit or equivalent security for private buyers.

Normally confirmed irrevocable letter of credit or equivalent security for sovereign/public buyers.

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We would need to conduct a country review to consider any medium or long-term cover.

Subject to sustainable lending criteria.

Nigeria

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

Subject to Care on Location.

Niue

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Contact us Contact us One

We would need to conduct a country review to consider any cover.

North Korea

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy We are not able to offer any cover No No Not applicable

North Macedonia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

North Mariana Islands

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Contact us Contact us One

We would need to conduct a country review to consider any cover.

Norway

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

For medium/long term business, Local Currency Financing is available.

Oman

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Pakistan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

Palau

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Contact us Contact us Two

We would need to conduct a country review to consider any cover.

Palestinian Authority

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy We are not able to offer any cover No No Not applicable

Panama

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available.

We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.

Papua New Guinea

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

Subject to sustainable lending criteria.

Paraguay

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £3 billion to £4 billion Yes Yes Two

For medium/long term business, we are willing to consider Local Currency Financing.

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Peru

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

We can also consider business in Peru where the CAF acts as borrower or guarantor.

For medium/long term business, Local Currency Financing is available.

Philippines

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Poland

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

For medium/long term business, Local Currency Financing is available.

Portugal

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Puerto Rico

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes One

Short term cover is available for private sector buyers only.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Qatar

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Romania

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Russian Federation

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Contact us Contact us Contact us Two

For medium/long term business, Local Currency Financing is available.

Rwanda

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Samoa

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We would need to conduct a country review to consider any medium or long-term cover.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

San Marino

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £250 million to £500 million Yes Yes Two

Sao Tome and Principe

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by Confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Saudi Arabia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Senegal

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by Confirmed irrevocable letter of credit or equivalent security.

For medium/long term business, we are willing to consider Local Currency Financing.

Subject to sustainable lending criteria.

Serbia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £3 billion to £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

Seychelles

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £150 million to £250 million Yes Yes Two

Sierra Leone

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by confirmed irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Singapore

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Sint Maarten

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Contact us Contact us Two

We would need to conduct a country review to consider any cover.

Slovakia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Slovenia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Solomon Islands

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Contact us Contact us Two

We would need to conduct a country review to consider any cover.

Subject to sustainable lending criteria.

Somalia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy We are not able to offer any cover No No Not applicable

South Africa

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

South Korea

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

For medium/long term business, Local Currency Financing is available.

We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.

South Sudan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy We are not able to offer any cover No No Two

Spain

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.

Sri Lanka

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available on a case-by-case basis.

St Helena

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Less than £10 million Yes Yes One

St Kitts and Nevis

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

St Lucia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us Two

Subject to sustainable lending criteria.

We would need to conduct a country review to consider any medium or long-term cover.

St Pierre and Miquelon

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us One

We would need to conduct a country review to consider any medium or long-term cover.

St Vincent and the Grenadines

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £50 million to £100 million Yes Yes Two

Subject to sustainable lending criteria.

Sudan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy We are not able to offer any cover No No Not applicable

Suriname

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Yes Two

Subject to Care on Location.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Sweden

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

For medium/long term business, Local Currency Financing is available.

Switzerland

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

For medium/long term business, Local Currency Financing is available.

Syria

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy We are not able to offer any cover No No Not applicable

Taiwan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

We can also consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.

Tajikistan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

We would prefer asset based finance or foreign exchange earning projects.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Tanzania

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

Subject to Care on Location.

Thailand

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Timor l’Este

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us Two

We would need to conduct a country review to consider any medium or long-term cover.

Subject to sustainable lending criteria.

Togo

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £500 million to £750 million Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Tonga

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us Two

We would need to conduct a country review to consider any medium or long-term cover.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Trinidad and Tobago

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available.

Tunisia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

For medium/long term business, we are willing to consider Local Currency Financing.

Turkey

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £3 billion to £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Turkmenistan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

For cash or short term cover we would expect payments to be secured by irrevocable letter of credit or equivalent security.

Turks and Caicos Islands

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £50 million to £100 million Yes Yes One

Tuvalu

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Contact us Contact us Two

We would need to conduct a country review to consider any cover.

Subject to sustainable lending criteria.

In view of the IMF and/or World Bank zero non-concessional borrowing limit for this country UKEF is unable to provide medium or long term cover for sovereign or public buyer/borrowers unless the IMF and/or World Bank grant the authorities a waiver for the transaction.

Uganda

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £1 billion to £2 billion Yes Yes Two

Subject to sustainable lending criteria.

For medium/long term business, Local Currency Financing is available.

Ukraine

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

United Arab Emirates (UAE)

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

Our market risk appetite for United Arab Emirates is shared with Abu Dhabi but not Dubai, which has its own country limit.

For medium/long term business, Local Currency Financing is available.

United States (USA)

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes One

Uruguay

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy At least £4 billion Yes Yes Two

We are also willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

For medium/long term business, Local Currency Financing is available.

Uzbekistan

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £2 billion to £3 billion Yes Yes Two

Subject to sustainable lending criteria.

Vanuatu

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us Two

We would need to conduct a country review to consider any medium or long-term cover.

Subject to sustainable lending criteria.

Vatican City

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us Two

We would need to conduct a country review to consider any medium or long-term cover.

Venezuela

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Contact us Contact us Contact us Two

We are willing to look at medium/long term business involving the Andean Development Corporation (Corporacion Andina de Fomento).

Vietnam

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy £3 billion to £4 billion Yes Yes Two

For medium/long term business, Local Currency Financing is available.

Virgin Islands (US)

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Yes Contact us One

We would need to conduct a country review to consider any medium or long-term cover.

Yemen

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy We are not able to offer any cover No No Not applicable

Zambia

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy Case by case Contact us Contact us Two

For cash or short term cover we would expect payments to be secured by an irrevocable letter of credit or equivalent security.

For medium or long term cover we can only consider providing support for foreign exchange-earning projects.

Subject to sustainable lending criteria.

Zimbabwe

Market risk appetite Cash or short term cover Medium or long term cover Consensus category
Cover policy We are not able to offer any cover No No Not applicable

Definitions

Cash or short term cover

The EU State Aid temporary framework is supporting economies in the context of the coronavirus (COVID-19) outbreak. In addition to our usual market criteria, we can now also support credit insurance business with a horizon of risk of less than 24 months in all EU member states, Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland and the USA. This applies during the transition period.

Care on location

Those countries where there may be regional, ethnic or religious tensions, border disputes/conflict with neighbouring countries which may give rise to additional risks depending on where projects are located. We will need to take into account the location of the project in deciding whether or not support can be provided.

Consensus category (used in the cover indicator table)

Countries are classified under the Organisation for Economic Co-operation and Development (OECD) Arrangement on Officially Supported Export Credits which determines the maximum repayment terms.

Category One - maximum credit period is normally 8.5 years

Category Two - maximum credit period is normally 10 years

However, longer maximum repayment terms may be considered for large civil aircraft, nuclear and non-nuclear power stations, ships, renewable energies and water projects and projects where the cashflows generated will be used to repay the export credit loans.

Foreign exchange-earning projects

Projects which earn foreign exchange income. In certain circumstances it may be possible to provide support for such projects in countries where UKEF cover is not normally available.

Horizon of risk

The total length of time UKEF could be at risk for a contract. This is usually the total period from date of contract to final payment under that contract.

Letters of credit

A letter of credit is an undertaking by a bank to make a payment to a named beneficiary within a specified time, against the presentation of documents which comply strictly with the terms of the letter of credit. There are different types of letter of credit including irrevocable letter of credit (ILC) and confirmed irrevocable letter of credit (CILC).

Market risk appetite

The total amount of risk exposure we would be willing to support for new business in a particular country or territory. For foreign exchange earning projects with robust financing structures and strong risk mitigants, UKEF may be able to exceed the market risk appetite specified. We make these decisions on a case by case basis.

Medium or long term cover

Where the credit terms are longer than 2 years.

Public or private sector

The status of an entity. Public sector entities are usually government departments, or organisations owned by the State. Private sector entities are businesses owned by private individuals or organisations.

Sustainable lending

For certain poor countries we can only support exports and investments which meet sustainable lending criteria. The export or investment must be expected to assist in the social and economic development of the country or territory, without adversely affecting its underlying debt sustainability position.

Premium indicator

Use our premium indicator tool to obtain an indicative premium rate for medium or long-term transactions, where UKEF will be supporting a contract with an overseas sovereign buyer as the risk entity.

Published 28 April 2013
Last updated 29 July 2020 + show all updates
  1. Changes made to reflect UKEF’s updated Exposure Management Framework.

  2. Updated to reflect support for credit insurance business with a horizon of risk of less than 24 months in the EU, Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland and the USA.

  3. Updated MRA guidelines

  4. Updated to include details of UKEF's sovereign premium indicator tool.

  5. Updated country cover policies for Oman, Saudi Arabia and Dominican Republic

  6. Updated to reflect latest cover position

  7. Country cover indicators updated

  8. Change to the market risk appetite for Venezuela

  9. First published.