India, March 14 -- British Chancellor of the Exchequer Rachel Reeves has announced 2 billion pounds ($2.58 billion) in support for the UK defense industry.
This fund will be used to finance UK defense companies that export military equipment.
On a visit to Scotland Friday, Rachel Reeves announced the massive increase to UK Export Finance's Direct Lending capacity for defense, which will unlock further opportunities for UK defense exports such as missiles, aircraft and armored vehicles overseas.
This will increase UKEF's lending capacity from 8 billion pounds ($10.34 billion) to 10 billion pounds (12.93 billion), and increase the competitiveness of UK defense industry, allowing UK exporters to grow their business through sales to allied n...