Government’s Direct Lending Fund helps Carillion win contract

Joseph Millis
THE UK Export Finance yesterday announced the first contract to receive a loan from the Direct Lending Facility (DLF) would go to construction giant Carillion.

The availability of a £34m loan from the DLF has helped Carillion to secure a significant contract with Dubai World Trade Centre to provide construction services.

Under the DLF, the British government can provide loans of up to £3bn in aggregate to overseas buyers to finance the purchase of capital goods and/or services, from exporters carrying on business in the UK. Loans can be made in Sterling, US Dollars, Euro or Japanese Yen.

Chancellor of the exchequer George Osborne hailed the move, saying: “Helping British companies to access global markets is a key part of our long-term economic plan…

“It is great to see successful companies like Carillion winning contracts around the world. Today’s deal, the first in a pipeline of many, will help us reverse the age old trend of not exporting enough, boosting growth and creating jobs.”

Carillion chief executive Richard Howson said: “This is a significant… contract for Carillion, which will help us to build on our success in the Middle East and make further progress with our strategic objective of growing our business in the region.”

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