Extra billions to boost exports to Brazil
At the start of a three-day trade trip to Brazil, the Chancellor said banks will now have access to a Bank of England facility that will make it less risky for them to give loans to exporters.
Around £4m of funding will also be used by UK Trade and Investment (UKTI) to support 3,000 companies to increase exports and £2m will go on expanding the organisation’s operations in Latin America and helping to secure contracts in £1.5bn worth of infrastructure projects around Brazil.
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Hide AdIn a speech to business leaders in Rio de Janeiro, Mr Osborne said he was part of the “most pro-Brazil British government for over 70 years”. “We both flourish, we both succeed, we both grow, both create jobs when we do business and work together,” he said.