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First investment from the 3bn Direct Lending Facility goes to Carillion

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The investment, of $110m ( £68.7m), goes to Carillion, a construction services firm, to set up a partnership with the Dubai World Trade Centre LLC.

The DLF was designed with overseas buyers, purchasing goods and services from the UK, in mind. It is set up with 3bn for supporting export investment contracts.

George Osborne, Chancellor of the Exchequer, said: Helping British companies access global markets is a key part of our long term economic plan. So today Im delighted to announce the first deal supported by UK Export Finances Direct Lending Facility along with the 20 financial institutions that are going to help us deliver the loans.

Todays deal, the first in a pipeline of many, will help us reverse the age old trend of not exporting enough.

The DLF has also announced the panel, which features some of the largest banks in the world, including Barclays, Bank of China and Deutsche Bank; a diverse group to represent the Funds’s international interests.

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