Country Risk and Cover Policy and Indicators
Summary
UK Export Finance published updated country cover policy and risk appetite guidance providing country-specific market risk appetite classifications and cover availability for cash/short-term and medium/long-term export finance support. Countries such as Afghanistan receive no cover while others like Albania receive full cover availability with at least £5 billion market risk appetite. The guidance is informational only and does not constitute a commitment to provide cover for any specific contract.
What changed
UK Export Finance issued updated guidance detailing cover policy classifications for countries and territories. The document specifies market risk appetite levels, cash/short-term cover availability, and medium/long-term cover availability for each listed country. For example, Afghanistan shows no cover available while Albania indicates full cover with at least £5 billion market risk appetite.
Exporters and businesses engaged in international trade should use this guidance to assess UKEF's potential support availability for specific markets. The document explicitly states it does not commit UKEF to providing cover and should be used alongside independent due diligence. Entities considering export operations in higher-risk markets may wish to contact UKEF directly to discuss specific cover positions.
What to do next
- Review country-specific cover availability for target export markets
- Contact UKEF customer service for specific cover inquiries
- Conduct independent due diligence before entering new markets
Archived snapshot
Apr 16, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Guidance
Cover policy and indicators
Find out about cover policy and indicators for countries and territories that are covered by UK Export Finance.
From: UK Export Finance Published 28 April 2013 Last updated 1 April 2026
— See all updates Get emails about this page Print this page 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
Contact us
Customer service
Email customer.service@ukexportfinance.gov.uk
Telephone +44 (0)20 7271 8010
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 | |
|---|---|---|---|
| Cover policy | We are not able to offer any cover | No | No |
Subject to Care on Location.
Subject to sustainable lending criteria.
Albania
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
Algeria
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes - With restrictions | Yes |
For cash or short term cover above £100,000 we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to Care on Location.
American Samoa
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Andorra
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £500 million to £1 billion | Yes | Yes |
Angola
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to Care on Location.
Anguilla
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Antigua and Barbuda
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Off cover | No | No |
Argentina
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Contact us |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
We are willing to consider medium or long-term business involving the Andean Development Corporation (Corporacion Andina de Fomento) or the Central American Bank for Economic Integration (CABEI).
Armenia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | £500 million to £1 billion | Yes | Yes |
Australia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
For medium/long term business Local Currency Financing is available.
Austria
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Azerbaijan
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes - With restrictions | Yes |
For cash or short term cover above £100,000 we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to Care on Location.
Bahamas
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £500 million to £1 billion | Yes | Yes |
Bahrain
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes - With restrictions | Yes |
For cash or short term cover above £100,000 we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Barbados
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £250 million to £500 million | Yes | Yes |
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).
Belarus
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Off cover | No | No |
Subject to Care on Location.
Belgium
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Belize
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
We are willing to consider medium or long-term business involving the Central American Bank for Economic Integration (CABEI).
Benin
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £2 billion to £3 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes | Yes |
Bhutan
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to sustainable lending criteria.
Bolivia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
We are willing to consider medium or 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 | |
|---|---|---|---|
| Cover policy | £3 billion to £4 billion | Yes | Yes |
Botswana
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Brazil
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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.
British Virgin Islands
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £50 million to £100 million | Yes | Yes |
Brunei Darussalam
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
Bulgaria
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
For medium/long term business, Local Currency Financing is available.
Burkina Faso
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Contact us |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
Subject to Care on Location.
Subject to sustainable lending criteria.
Burundi
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to Care on Location.
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.
Cambodia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes - With restrictions | Yes |
For cash or short term cover above £100,000 we would expect payments to be secured by 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 | |
|---|---|---|---|
| Cover policy | Case by Case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
Subject to Care on Location.
Subject to sustainable lending criteria.
For medium and long-term business, Local Currency Financing is available.
Canada
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
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 | |
|---|---|---|---|
| Cover policy | £250 million to £500 million | Yes | Yes |
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.
Cayman Islands
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £500 million to £1 billion | Yes | Yes |
Central African Republic
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to Care on Location.
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.
Chad
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
Subject to Care on Location.
Subject to sustainable lending criteria.
Considering the IMF and World Bank zero non-concessional borrowing limit for Chad, UKEF is unable to provide medium- or long-term cover for sovereign or public transactions unless the IMF and World Bank grant the authorities a waiver for the transaction.
Chile
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Colombia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to sustainable lending criteria.
Considering the IMF and World Bank zero non-concessional borrowing limit for Comoros, UKEF is unable to provide medium- or long-term cover for sovereign or public transactions unless the IMF and World Bank grant the authorities a waiver for the transaction.
Congo
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
Subject to Care on Location.
Subject to sustainable lending criteria.
Considering the IMF and World Bank zero non-concessional borrowing limit for Congo, UKEF is unable to provide medium- or long-term cover for sovereign or public transactions unless the IMF and 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 | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
Subject to sustainable lending criteria.
Subject to Care on Location.
Cook Islands
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Less than £25m | Yes | Yes |
Costa Rica
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | £2 billion to £3 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Cuba
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | We are not able to offer any cover | No | No |
UKEF can consider business where the Central American Bank for Economic Integration (CABEI) acts as borrower or guarantor.
Cyprus
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
UKEF’s cover policy applies only to the area under control of the Government of the Republic of Cyprus.
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Czech Republic
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
For medium/long term business, Local Currency Financing is available.
Denmark
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
For medium/long term business, Local Currency Financing is available.
Djibouti
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to Care on Location.
Subject to sustainable lending criteria.
Considering the IMF and World Bank zero non-concessional borrowing limit for Djibouti, UKEF is unable to provide medium- or long-term cover for sovereign or public transactions unless the IMF and World Bank grant the authorities a waiver for the transaction.
Dominica
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | Yes | Yes |
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.
Subject to Care on Location.
Dubai
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
We are willing to consider medium or 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 | |
|---|---|---|---|
| Cover policy | £2 billion to £3 billion | Yes - With restrictions | Yes |
For cash or short term cover above £100,000 we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to Care on Location.
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 | |
|---|---|---|---|
| Cover policy | £250 million to £500 million | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
Equatorial Guinea
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Eritrea
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to Care on Location.
Subject to sustainable lending criteria.
Estonia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Eswatini (formerly Swaziland)
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £500 million to £1 billion | Yes | Yes |
Ethiopia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Considering the IMF and World Bank zero non-concessional borrowing limit for Ethiopia, UKEF is unable to provide medium- or long-term cover for sovereign or public transactions unless the IMF and World Bank grant the authorities a waiver for the transaction.
Subject to Care on Location.
Falkland Islands
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £25 million to £50 million | Yes | Yes |
Faroe Islands
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Fiji
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £500 million to £1 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Finland
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
France
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
French Polynesia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £500m to £1bn | Yes | Yes |
French Southern Territories
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact Us | Contact Us | Contact Us |
Gabon
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Off Cover | No | No |
Gambia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to sustainable lending criteria.
Considering the IMF and World Bank zero non-concessional borrowing limit for Gambia, UKEF is unable to provide medium- or long-term cover for sovereign or public transactions unless the IMF and World Bank grant the authorities a waiver for the transaction.
Georgia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | Yes | Yes |
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 Care on Location.
Germany
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Ghana
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Off cover | No | No |
Subject to sustainable lending criteria.
Gibraltar
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Greece
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Greenland
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Grenada
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £100 to £250 million | Yes | Yes |
Subject to sustainable lending criteria.
Guatemala
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | £250 million to £500 million | Yes - With restrictions | Yes |
For cash or short term cover above £100,000 we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Guinea-Bissau
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
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.
Guyana
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £2 billion to £3 billion | Yes | Yes |
Subject to sustainable lending criteria.
Haiti
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | We are not able to offer any cover | No | No |
Subject to Care on Location.
Honduras
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £2 billion to £3 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Hungary
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
For medium/long term business, Local Currency Financing is available.
Iceland
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
For medium/long term business, Local Currency Financing is available.
India
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Subject to Care on Location.
Indonesia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Subject to Care on Location.
Iran
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Off cover | No | No |
Subject to Care on Location.
Iraq
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £1bn - £2bn | Yes - with restrictions | Yes |
For cash or short term cover above £100,000 we would expect payments to be secured by irrevocable letter of credit or equivalent security.
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.
Ireland
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Israel
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Subject to Care on Location.
Italy
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Jamaica
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Jordan
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £3 billion to £4 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Subject to Care on Location.
Kazakhstan
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Kenya
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes | Yes |
Subject to Care on Location.
Subject to sustainable lending criteria.
Kiribati
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
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.
Kosovo
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £2 billion to £3 billion | Yes | Yes |
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.
Kuwait
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Subject to Care on Location.
Kyrgyzstan
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes - With restrictions | Yes |
For cash or short term cover above £100,000 we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Laos
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Latvia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Subject to Care on Location.
Lebanon
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | We are not able to offer any cover | No | No |
Subject to Care on Location.
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
Lesotho
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £500 million to £1 billion | Yes | Yes |
Subject to sustainable lending criteria.
Liberia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
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.
Libya
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | We are not able to offer any cover | No | No |
Subject to Care on Location.
Liechtenstein
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £500 million to £1 billion | Yes | Yes |
Lithuania
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Luxembourg
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Macao
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
Madagascar
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
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 | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to sustainable lending criteria.
Considering the IMF and World Bank zero non-concessional borrowing limit for Malawi, UKEF is unable to provide medium- or long-term cover for sovereign or public transactions unless the IMF and World Bank grant the authorities a waiver for the transaction.
Malaysia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Maldives
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long term cover we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Considering the IMF and World Bank zero non-concessional borrowing limit for the Maldives, UKEF is unable to provide medium- or long-term cover for sovereign or public transactions unless the IMF and World Bank grant the authorities a waiver for the transaction.
Mali
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Contact us |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
Subject to Care on Location.
Subject to sustainable lending criteria.
Malta
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Marshall Islands
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Less than £25 million | Yes | Yes |
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.
Mauritania
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes - With restrictions | Yes |
For cash or short term cover above £100,000 we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to Care on Location.
Subject to sustainable lending criteria.
Mauritius
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
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.
Moldova
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes | Yes |
Subject to Care on Location.
Subject to sustainable lending criteria.
Monaco
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes | Yes |
Mongolia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £2 billion to £3 billion | Yes | Yes |
Montenegro
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £1 billion - £2 billion | Yes | Yes |
Montserrat
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Less than £25m | Yes | Yes |
Morocco
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Considering the IMF and World Bank zero non-concessional borrowing limit for Mozambique, UKEF is unable to provide medium- or long-term cover for sovereign or public transactions unless the IMF and World Bank grant the authorities a waiver for the transaction.
Subject to Care on Location.
Myanmar
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | We are not able to offer any cover | No | No |
Subject to Care on Location.
Subject to sustainable lending criteria.
Namibia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | Yes | Yes |
Nauru
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Nepal
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £2 billion to £3 billion | Yes | Yes |
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.
Netherlands
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
New Zealand
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Nicaragua
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
Subject to sustainable lending criteria.
We are willing to consider medium or long-term business involving the Central American Bank for Economic Integration (CABEI).
Niger
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Contact us |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
Subject to sustainable lending criteria.
Subject to Care on Location.
Nigeria
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £500 million to £1 billion | No | Yes |
For cash or short term cover above £100,000 we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to Care on Location.
Niue
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
North Korea
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | We are not able to offer any cover | No | No |
North Macedonia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
North Mariana Islands
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | Contact us | Contact us |
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 | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
For medium/long term business, Local Currency Financing is available.
Oman
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
Pakistan
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
Subject to Care on Location.
Palau
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Palestinian Authority
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to Care on Location.
Panama
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes | Yes |
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.
Paraguay
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Subject to Care on Location.
Pitcairn
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Poland
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact Us | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
For medium/long term business, Local Currency Financing is available.
Subject to Care on Location.
Portugal
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Puerto Rico
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Qatar
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £3 billion to £4 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Romania
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
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 | |
|---|---|---|---|
| Cover policy | Off cover | No | No |
Subject to Care on Location.
Rwanda
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £2 billion to £3 billion | Yes | Yes |
Subject to sustainable lending criteria.
Samoa
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
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 | |
|---|---|---|---|
| Cover policy | £250 million to £500 million | Yes | Yes |
Sao Tome and Principe
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to sustainable lending criteria.
Considering the IMF and World Bank zero non-concessional borrowing limit for Sao Tome and Principe, UKEF is unable to provide medium- or long-term cover for sovereign or public transactions unless the IMF and 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 | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Senegal
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Off cover | No | No |
Subject to sustainable lending criteria.
Serbia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £4bn - £5bn | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | £500 million to £1 billion | Yes | Yes |
Sierra Leone
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to sustainable lending criteria.
Considering the IMF and World Bank zero non-concessional borrowing limit for Sierra Leone, UKEF is unable to provide medium- or long-term cover for sovereign or public transactions unless the IMF and World Bank grant the authorities a waiver for the transaction.
Singapore
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Slovakia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Slovenia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Solomon Islands
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | Contact us | Contact us |
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.
Somalia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | We are not able to offer any cover | No | No |
Subject to Care on Location.
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.
South Africa
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to Care on Location.
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.
Spain
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
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 | |
|---|---|---|---|
| Cover policy | Off cover | No | No |
St Helena
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Less than £25 million | Yes | Yes |
St Kitts and Nevis
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £100 million to £250 million | Yes | Yes |
St Lucia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £250 million to £500 million | Yes | Contact us |
Subject to sustainable lending criteria.
St Pierre and Miquelon
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
St Vincent and the Grenadines
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £100 million to £250 million | Yes | Yes |
Subject to sustainable lending criteria.
Sudan
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | We are not able to offer any cover | No | No |
Subject to Care on Location.
Subject to sustainable lending criteria.
Suriname
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
For medium/long term business, Local Currency Financing is available.
Switzerland
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
For medium/long term business, Local Currency Financing is available.
Syria
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | We are not able to offer any cover | No | No |
Subject to Care on Location.
Subject to sustainable lending criteria.
Taiwan
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes - With restrictions | Yes |
For cash or short term cover above £100,000 we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Tanzania
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes | Yes |
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.
Thailand
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
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.
Togo
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes | Yes |
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.
Tonga
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
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 | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | Case by case | No | Yes |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
Subject to Care on Location.
Turkey
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £1 billion to £2 billion | Yes | Yes |
For medium/long term business, Local Currency Financing is available.
Subject to Care on Location.
Turkmenistan
| | Market risk appetite | Cash or short term cover | Medium or long term cover
-|-
| # Cover policy | £3 billion to £4 billion | Yes - with restrictions | Yes
For cash or short term cover above £100,000 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 | |
|---|---|---|---|
| Cover policy | £100 million to £250 million | Yes | Yes |
Tuvalu
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
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 | |
|---|---|---|---|
| Cover policy | 1 billion to £2 billion | Yes | Yes |
Subject to sustainable lending criteria.
For medium/long term business, Local Currency Financing is available.
Subject to Care on Location.
Ukraine
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Subject to Care on Location.
United Arab Emirates (UAE)
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5bn | Yes | Yes |
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 of America (USA)
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | £4 billion to £5 billion | No | Yes |
Due to obligations arising under UK international Trade Agreements, we are prohibited from supporting credit insurance business through UKEF’s Export Insurance Policy (EXIP) with a horizon of risk of less than 24 months.
Uruguay
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | £3 billion to £4 billion | Yes - with restrictions | Yes |
For cash or short term cover above £100,000 we would expect payments to be secured by irrevocable letter of credit or equivalent security.
Subject to sustainable lending criteria.
Vanuatu
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
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.
Vatican City
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Venezuela
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | No | Contact us |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects.
We are willing to consider medium or long-term business involving the Andean Development Corporation (Corporacion Andina de Fomento).
Subject to Care on Location.
Vietnam
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | At least £5 billion | Yes | Yes |
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 | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Wallis and Futuna Islands
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Contact us | Contact us | Contact us |
Yemen
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | We are not able to offer any cover | No | No |
Subject to Care on Location.
Subject to sustainable lending criteria.
Zambia
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | Case by case | No | Contact us |
We are unable to offer short term cover unless payments can be secured by a confirmed irrevocable letter of credit or equivalent security, provided by a suitable bank.
For medium or long-term cover, we can only consider providing support for foreign exchange-earning projects
Subject to sustainable lending criteria.
Considering the IMF and World Bank zero non-concessional borrowing limit for Zambia, UKEF is unable to provide medium- or long-term cover for sovereign or public transactions unless the IMF and World Bank grant the authorities a waiver for the transaction.
Zimbabwe
| Market risk appetite | Cash or short term cover | Medium or long term cover | |
|---|---|---|---|
| Cover policy | We are not able to offer any cover | No | No |
Subject to sustainable lending criteria.
Definitions
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.
Cash or Short Term Cover
Where the duration of the contract is less than 2 years, UKEF cannot support exports to European Union countries, Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland and the United States of America because of obligations arising under UK international Trade Agreements.
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 sovereign transactions where UKEF would be supporting a contract with an overseas sovereign buyer as the risk entity using Buyer Credit, Direct Lending, Lines of Credit, Bills and Notes Guarantee or Standard Buyer Loan Guarantee.
Updates to this page
Published 28 April 2013 Last updated 1 April 2026 show all updates
1.
1 April 2026
MRA for Turkey and Guinnea changed
2.
1 April 2026
Information for Senegal updated
3.
27 March 2026
Updated care on location
4.
10 March 2026
Update MRA for
Azerbaijan
Bangladesh
Cambodia
Cameroon
Egypt
Guinea
Iraq
Kyrgyzstan
Mauritania
Nigeria
Tajikistan
Turkmenistan
Uzbekistan
5.
4 February 2026
MRA for Egypt and Poland updated
6.
2 February 2026
Info updated for El Salvador
7.
27 January 2026
Iran updated
8.
12 January 2026
Japan and Cook Islands market appetite changed.
9.
24 December 2025
Information changed for: Bhutan, Palau, Pitcairn, St. Pierre and Miquelon, Samoa, South Sudan, Timor Leste, Tonga, Tuvalu, Vanuatu, Vatican City, Virgin Islands, Wallis and Futuna Islands
10.
10 December 2025
Outdated pdfs removed.
11.
10 December 2025
Market appetite for Egypt updated
12.
5 December 2025
MRA changed for Seychelles, Turkmenistan, Turkey and Costa Rica
13.
1 December 2025
Information on Premium Indicator Tool updated
14.
24 November 2025
Entry for Rwanda updated
15.
19 November 2025
Updated policy for:
American Samoa
Anguilla
Burundi
Central African Republic
Faroe Islands
French Southern Territories
Gibraltar
Greenland
Guinea Bissau
Kiribati
Liberia
Micronesia
Nauru
Niue
Palestinian National Authority
16.
5 November 2025
Short / longterm lending to gabon and footnotes removed
Serbia MRA updated
17.
3 October 2025
Market Risk Appetite figures increased for Benin, Indonesia and Japan.
18.
11 September 2025
Updated information for: Angola, Comoros, Cook Islands, Cuba, Djibouti, Equatorial Guinea, Eritrea, French Polynesia, Gambia, Haiti, Iran, Iraq, Lebanon, Malawi, Montserrat, Puerto Rico, Sao Tome and Principe, Sierra Leone, Ukraine. UAE
19.
13 August 2025
Information for Nigeria ammended
20.
4 August 2025
MRAs updated:
Egypt (to ‘£500m - £1bn’)
Guatemala (to ‘At Least £5bn’)
Nigeria (to ‘£500m - £1bn’)
India (to ‘£4bn - £5bn’)
Indonesia (to ‘£2bn - £3bn’)
United States (to ‘£3bn - £4bn’)
21.
4 August 2025
Cover policy for Kosovo updated
22.
2 July 2025
Updates to MRA bands for Armenia, Iceland, Lesotho, Montenegro, Saint Kitts and Nevis
23.
5 June 2025
Amendment made to Senegal - Market Risk factor changed to "FXP Only"
Information added “For medium or long term cover we can only consider providing support for foreign exchange-earning projects.”
Information removed “For medium/long term business, we are willing to consider Local Currency Financing.”
Entries for Curacao and Sint Martaan removed
Entry for Gibraltar table corrected to view correctly
24.
6 May 2025
MRA for Albania and Tanzania changed.
25.
6 May 2025
MRA for Moldova changed.
26.
14 April 2025
Market risk appetite for Tanzania changed to £2 to £3 billion
27.
11 April 2025
The Consensus Category has been removed. Due to changes in the OECD arrangement, it is no longer relevant to include this section.
28.
2 April 2025
Senegal market risk appetite updated.
29.
12 March 2025
Country cover updated for Nicaragua and Marshall Islands.
30.
7 March 2025
Update to Turkey cover policy - £1 billion to £2 billion
31.
19 February 2025
Amendments made to the following countries:
Bermuda
Guyana
Namibia
Nepal
St Kitts and Nevis
St Lucia
Turkey
32.
11 February 2025
Updates have been made to the cover policy for Kyrgyzstan.
33.
7 January 2025
Changes have been made to the market risk appetite for Cote d'Ivoire, Kosovo and Oman.
34.
5 December 2024
Market Risk Appetite for Guinea has been updated.
35.
8 November 2024
The market risk appetite for Tunisia has been updated from 'FXP only' to 'case by case'.
36.
5 November 2024
Updates have been made to the cover policy for Gabon.
37.
28 October 2024
Edit to Niger entry.
38.
16 October 2024
The market risk appetite for Kenya and Turkmenistan has been updated.
39.
6 September 2024
Amendment made to Tunisia entry
40.
9 July 2024
Market risk appetites for Turkey and Egypt have been updated.
41.
4 June 2024
Market risk appetite for Oman is now £3 billion to £4 biillion.
42.
9 May 2024
Market risk appetite for Costa Rica and Jamaica have been updated.
43.
9 May 2024
Amendments made to the following countries:
Brazil
Egypt
Grenada
Mali
Qatar
St. Kitts and Nevis
St. Lucia
St. Vincent and the Grenadines
Serbia
Turkey
Turks and Caicos Islands
44.
29 April 2024
Amendments made to Grenada, St Kitts and Nevis and St Lucia
45.
9 April 2024
Tajikistan entry edited.
46.
8 April 2024
This entry was added to the following countries; Gambia, Haiti, Solomon Islands, and Timor l’Este:
‘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’.
This entry was added to the following countries; Grenada, Mali, Myanmar, Syria, Yemen, Zimbabwe:
‘Subject to Sustainable Lending Criteria’.
47.
15 March 2024
Changes to the following countries:
Armenia
Bosnia and Herzegovina
Greece
Honduras
Jamaica
Jordan
Oman
Poland
Qatar
Rwanda
Seychelles
Turkmenistan
Uzbekistan
Vietnam
48.
13 March 2024
Market risk appetite for Turkey updated to £250 million to £500 million.
49.
5 March 2024
St Vincent and the Grenadines MRA changed.
50.
6 February 2024
Change to market risk appetite for Bolivia.
51.
2 February 2024
Paragraph under Cameroon removed:
‘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.’
52.
2 February 2024
‘Subject to sustainable lending criteria’ for Cameroon removed.
53.
5 January 2024
Updates to the market risk appetite for Albania, Algeria, Andorra, Aruba, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Belgium, Bermuda, Bhutan, Botswana, Brazil, Brunei Darussalam, Bulgaria, Canada, Cayman Islands, Chile, China, Colombia, Croatia, Cyprus, Czech Republic, Denmark, Dominican Republic, Dubai, Estonia, Fiji, Finland, France, Georgia, Germany, Greece, Guatemala, Guyana, Hong Kong, Hungary, Iceland, India, Ireland, Israel, Italy, Japan, Kazakhstan, South Korea, , Kuwait, Latvia, Liechtenstein, Lithuania, Luxembourg, Macao, North Macedonia, Malaysia, Malta, Mauritius, Mexico, Mongolia, Montenegro, Morocco, Netherlands, New Zealand, Norway, Oman, Panama, Paraguay, Peru, Philippines, Portugal, Romania, Saudi Arabia, Serbia, Singapore, Slovakia, Slovenia, South Africa, Spain, Eswatini, Sweden, Switzerland, Taiwan, Thailand, Trinidad and Tobago, Turkey, Uganda, United Arab Emirates, United States, Uruguay, Vietnam.
54.
9 October 2023
Barbados details changed.
55.
2 October 2023
Oman banding changed from £2bn to £3bn to £1bn to £2b.
56.
5 September 2023
Market risk appetite for Oman increased to £2 billion to £3 billion.
57.
1 August 2023
Local currency financing no longer available for Croatia.
58.
27 July 2023
- Turkey MRA updated
- Text added to Comoros
- Text removed from Haiti and Gambia
- 8 June 2023
Changes for Nigeria made.
60.
25 May 2023
Bolivia banding updated.
61.
3 May 2023
MRA for Brazil, Poland and Uganda updated.
62.
28 April 2023
Text removed from Sudan.
63.
12 April 2023
Changes to the following countries:
Azerbaiajn
Bangladesh
Bosnia and Herzegovina
Cote d'Ivoire
Dominican Republic
Honduras
Jordan
Macedonia
Mongolia
South Africa
Turkmenistan
64.
5 April 2023
Changes to Costa Rica and Guatemala
65.
24 March 2023
Afghanistan and Comoros updated.
66.
24 March 2023
Albanian country cover
67.
22 March 2023
Ghana change
68.
15 March 2023
Changes to the following countries:
- Egypt
- Indonesia
- Poland
- Turkey
- 14 February 2023
MRA for Pakistan updated.
70.
27 January 2023
Changes to Bolivia and Mali.
71.
18 January 2023
Market risk appetite for Indonesia updated.
72.
1 December 2022
Change to Ghana and Niger.
73.
29 November 2022
Banding changes for the following countries:
- Andorra
- Dubai
- Jordan
- Mauritius
- Togo
- Turks and Caicos Islands
- 24 November 2022
Changes made to Antigua and Barbuda
75.
11 November 2022
Tunisia MRA changed to case by case.
76.
2 November 2022
Updated the market risk appetite for USA
77.
24 October 2022
Removed the word 'confirmed' from the Angola copy.
Added a further sentence to the Ghana copy.
78.
18 October 2022
The Market Risk Appetite column for Angola has changed to 'contact us', given that our available MRA in the country is low.
79.
2 September 2022
Sri lanka cover updated
80.
2 September 2022
Cover for Sri Lanka updated.
81.
30 August 2022
Cover for Kosovo has been updated.
82.
15 August 2022
Market risk appetite for Angola updated.
83.
3 August 2022
MRA for Saudi Arabia updated.
84.
20 June 2022
Cover policy for Cote D'Ivoire updated.
85.
17 May 2022
Edited to reflect change in coverage for South Sudan. "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" has been removed.
86.
11 May 2022
Burkina Faso cover position changed
87.
21 April 2022
Cameroon updated to reflect updates to sustainable lending.
88.
12 April 2022
Updated cover details for El Salvador
89.
31 March 2022
Cash or short term cover information updated for European Union countries, Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland and the United States of America due obligations arising under UK international Trade Agreements.
90.
16 March 2022
Market risk appetite for Turkey updated to £250 million to £500 million.
91.
15 March 2022
Changes to Belarus and Russia to reflect changes in cover
92.
4 March 2022
Changes to Burundi, Congo DR, Papa New Guinea, Vanuatu and Zambia to reflect updates to sustainable lending and changes to cover position.
93.
25 February 2022
Market risk appetite for Ukraine updated to Contact Us.
94.
13 December 2021
Market risk apetite for Ukraine updated to £1 billion to £2 billion.
95.
2 March 2021
Myanmar cover is no longer available.
96.
16 February 2021
Market risk appetite in Ghana changed to £500 million - £750 million.
97.
29 July 2020
Changes made to reflect UKEF’s updated Exposure Management Framework.
98.
31 March 2020
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.
99.
17 August 2018
Updated MRA guidelines
100.
23 February 2018
Updated to include details of UKEF's sovereign premium indicator tool.
101.
27 April 2017
Updated country cover policies for Oman, Saudi Arabia and Dominican Republic
102.
1 October 2015
Updated to reflect latest cover position
103.
3 September 2015
Country cover indicators updated
104.
23 October 2014
Change to the market risk appetite for Venezuela
105.
28 April 2013
First published.
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