UKEF’s Impact Framework sets out how the department will measure the real-world impact of its financial support, while aligning with government priorities for growth, clean energy and industrial strategy.
Each year, UKEF provides billions of pounds of financial support, helping businesses across the whole of the UK to export. This support is crucial, allowing UK firms – large and small – to grow by tapping into the vast opportunities global markets offer. This is at the core of our mandate, but the real-world impact of our work is much wider: from supporting local communities and driving growth, to financing renewable energy projects needed for the global low carbon transition. UKEF’s financing also helps build essential infrastructure in developing markets, ensuring that export credit aligns with international development priorities where possible.
Impact has always been at the heart of what we do. UKEF is known for having a deep understanding of UK businesses and their needs – and going the extra mile to support them. We have a long and proud history of innovation and flexibility in driving impact for our customers and their communities. This includes the unprecedented action we took to support UK firms and sectors during the pandemic. For example, we flexed our mandate to help Ukraine defend itself against Russia’s illegal war. That’s why ‘making a difference’ is one of UKEF’s core values; this is also reflected in our Mission Statement, which places prosperity and sustainability at the heart of everything we do.
UKEF is evolving, using the language of real-world impact in the way we talk about our success, hold ourselves to account and set our strategic direction. This will help us better tell the story of the good work UKEF does every day. It will also allow us to look for opportunities where we can maximise our impact, while ensuring that we align with government priorities for growth, clean energy and industrial strategy. This means we can deliver our mandate in a way that makes our taxpayer-backed support go as far as possible to deliver on the Government’s objectives.
Source: Gov.UK