UK Export Finance has announced a £50 billion Defence Export Fund, increasing its total lending capacity to £130 billion. The new allocation, the largest increase in the agency’s 100‑year history, will provide guarantees for bank loans and other financing to support British defence companies of all sizes, including those looking to expand internationally. UKEF will use the fund to help firms win major contracts abroad, with previous support covering large deals such as air‑defence systems to Poland and Ukraine and submarine‑rescue vehicles to Indonesia. In the 2024/25 financial year UKEF supported £10 billion in defence deals, many over £5 billion, and the fund aims to meet growing demand. CEO Tim Reid said the package will strengthen the sector’s global competitiveness and back UK jobs. By 2029 UKEF plans to help firms win over £12.5 billion in new contracts.
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