Anti-corruption campaigners have called on the British government’s export finance agency to increase transparency on its anti-corruption measures as it seeks to boost UK trade in the wake of Brexit and the pandemic.
In a report due to be published on Monday, the UK campaign group Spotlight on Corruption also questioned the growing trend of UK Export Finance to provide backing to British subsidiaries of foreign companies, some of which appear to have little economic activity in Britain.
The agency, which works alongside the Department for International Trade, provides support for companies, the vast majority of which are small and medium-sized enterprises that need loans, insurance policies or bank guarantees for export activities.
According to its annual report published in late June, it gave support worth £4.4bn to 339 companies in the past year. UKEF’s direct lending facility — under which it provides loans to overseas buyers of UK goods