UKEF backs £128mn export finance deal for Indonesia submarine rescue project

UK Export Finance (UKEF) is backing a £128mn export finance deal to support the delivery of a submarine rescue system to Indonesia.

The transaction provides financing support for UK exports, enabling Indonesian authorities to procure specialised rescue capabilities while supporting British industry.

The deal highlights the continued role of export credit agencies in facilitating cross-border trade, particularly in capital-intensive and specialist sectors.

Market participants say such transactions demonstrate how ECAs are stepping in to provide certainty and funding in complex international deals.

For exporters, the backing offers improved access to global markets, while for buyers it provides structured financing aligned with long-term project needs.