UK Export Finance (UKEF) has announced two loan guarantees totalling £128 million to support the export of submarine rescue vehicle systems (SRVS) to the Indonesian Navy. Over £67 million in supply contracts have been awarded to UK firms Submarine Manufacturing and Products Ltd (SMP Ltd) of Bristol and Forum Energy Technologies Ltd (FET) of York, with financing arranged through JP Morgan Chase (Singapore Branch, £76 million) and Banco Santander (£52 million). The deals represent UKEF's first entry into submarine rescue contracts of this kind and are intended to enhance Indonesia's submarine safety capability following the 2021 KRI Nanggala tragedy.