The UK Government has agreed with leading trade credit insurers to extend the Trade Credit Reinsurance Scheme until June 2021.
The objective of the 2021 scheme is to continue to support UK businesses affected by the coronavirus pandemic and to aid economic recovery by providing targeted support via trade credit insurers.
Commenting on the extension of the Trade Credit Reinsurance Scheme until 30th June 2021, Stuart Ramsden, Regional Director at Atradius UK said: “Maintaining trade credit insurance cover for UK businesses is key to enabling trade and protecting supply chains. Trade credit protection is also important for the UK economy and its ability to overcome the challenges arising from the pandemic. From the early days of the pandemic, Atradius, alongside other leading providers and the ABI, worked very closely with Government representatives to develop this important support scheme and we welcome the confirmed extension.”