Manufacturing SMEs urge the UK Government to take action on late payments. New research from Bibby Financial Services (BFS) has found that nearly six in ten (59%) UK manufacturers report that current measures to reduce late payments, including the Fair Payment Code, don't go far enough to protect them. The manufacturing sector remains the most critical of Government support for late payment across all industries surveyed. The data reveals SME manufacturing firms are currently owed an average of £76,000 in unpaid invoices, and more than sixty per cent (61%) say customers are taking longer to pay them in full compared to a year ago. Further, manufacturing businesses were more likely to suffer bad debt — due to non-payment by customers or protracted dispute — than any other sector (34% vs a cross-sector average of 29%). To read BFS's news release, go to​ https://www.bibbyfinancialservices.com/knowledge-hub/manufacturing-smes-call-for-action-on-late-payments-ahead-of-budget.

Corporate insolvencies in October increased by 17% compared to the same month in 2024. New data from the Insolvency Service has found that corporate insolvencies in England and Wales remain elevated, with 2,029 cases in October 2025 — up 2% on September's 1,995 and 17% higher than October 2024, although 11% below the October 2023 peak of 2,284. R3 President Tom Russell warns that today's increase continues a concerning trend, driven by economic uncertainty, tighter credit conditions, and more aggressive creditor action, including an 8% rise in compulsory liquidations as HMRC and others step up enforcement. Trading conditions remain difficult as firms face rising employment, energy and materials costs alongside subdued consumer spending. To read R3's news release, go to https://www.r3.org.uk/press-policy-and-research/news/more/32651/page/1/.

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38 UK business closures a day: Ministers pledge action on late payment. The UK government's response to the Small Business Access to Finance call for evidence has noted that late payment is a central barrier to SME finance. Cash-flow problems, caused by late payments from customers, are identified as the main reason small firms seek debt finance. Research cited in the response shows that late payments cost the UK economy around £11 billion a year and force an estimated 38 businesses to close every day. In response, ministers confirm plans to legislate to "end late payments" as part of the government's Small Business Plan, strengthening existing measures with tougher rules and enforcement." This will be the most significant legislation to tackle late payments in over 25 years and will give the UK the strongest legal framework on late payments in the G7." To read the UK government's response, go to https://www.gov.uk/government/calls-for-evidence/small-business-access-to-finance/outcome/government-response-to-access-to-finance-call-for-evidence.
Licensed under the terms of Open Government Licence v3.0.

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Cash flow: one in three UK SME leaders do not fully understand a key business risk. Global Banking and Finance Review reports that Novuna Business Cash Flow's survey of 1,000 SME decision makers found around 35% could not accurately define cash flow, even though 82% had experienced cash flow problems. Late customer payments (36%), seasonal shifts in sales (35%) and unexpected changes in trading conditions (27%) were the main triggers. Smaller firms, particularly small and medium-sized businesses, reported the highest incidence of issues, with SMEs facing cash flow disruption an average of 7.4 times a year. Over half rely on short-term fixes such as cost-cutting or borrowing, while only a minority use solutions like invoice finance or outsourced credit control. For more information, see Global Banking and Finance Review's article at https://www.globalbankingandfinance.com/one-in-three-sme-leaders-do-not-fully-understand-cash-flow-despite-82-facing-cash-flow-problems/.

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Headline numbers remain broadly unchanged, but insolvencies continue to be significantly above the pre-pandemic average. New data from Creditsafe has revealed that November's insolvency figures indicate that 2,140 businesses across the UK and Northern Ireland entered insolvency, representing a 15% decrease from October 2025, and 5% lower than the same time last year. However, despite this slight year-on-year decline, insolvency levels remain high following a sharp surge in March and have remained consistently elevated throughout the intervening months. Construction was the UK's hardest-hit sector in November, with 344 firms entering insolvency, accounting for 16% of all business failures that month. Additionally, sectors traditionally prone to high insolvency rates also saw notable figures. In November, the Wholesale & Retail sector recorded 311 insolvencies, while Accommodation and Food Services recorded 312 failures. Together, these two sectors account for 30% of all insolvencies in the month. To view Creditsafe's findings, go to https://www.creditsafe.com/gb/en/blog/reports/insolvencies.html.  

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VIDEO: Company Watch explains EY-Parthenon's Q3 Profit Warnings Report. Profit warnings, one of the clearest indicators of corporate stress, have remained steady in the UK in 2025, with EY-Parthenon's latest Q3 Profit Warnings Report recording 64 warnings in the quarter, showing that pressure remains widespread. What's different in this cycle is the shift in causes: most warnings now cite policy change and geopolitical uncertainty, with tariff disruption, broader instability, and weaker consumer confidence also acting as a drag on performance. In a new video, Company Watch CEO Craig Evans and EY-Parthenon analyst Kirsten Tompkins unpack the story behind these numbers and map EY-Parthenon's findings onto Company Watch risk signals, which are picking up the same rotation of pressure. EY-Parthenon provides the benchmark view of the listed market, while Company Watch data shows how those fault lines are developing across the broader economy, detecting distress before it becomes visible through headlines. To watch the video, go to https://www.companywatch.net/video/company-watch-ey-parthenon-q3-profit-warnings-explained/.

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​​​​​UK & Republic of Ireland Economy 

Brexit and the UK's lost growth. The National Bureau of Economic Research (NBER) has circulated a paper (authored by Nicholas Bloom, Philip Bunn, Paul Mizen, Pawel Smietanka, and Gregory Thwaites) on the impact of the UK's 2016 decision to leave the European Union (Brexit). Using almost a decade of post-referendum data, it estimates that by 2025 Brexit had reduced UK GDP by 6%-8%, with the effect building gradually over time. Investment is estimated to be 12%-18% lower, employment 3%-4% lower, and productivity 3%-4% lower. The research also finds that the UK was growing at a similar rate to comparable countries before the referendum, but since Brexit, UK GDP has grown by less than in those peers across all the NBER's comparator metrics. Depending on the comparator used, the authors estimate that UK GDP per capita has grown around 6%-10% less than similar countries between the referendum and Q1 2025, and by only around 4% in absolute terms over that period. To read the NBER's paper, go to https://www.nber.org/papers/w34459.

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The OBR anticipates UK GDP growth of 1.5% in 2025. The Office for Budget Responsibility (OBR) has published a new Economic and Fiscal Outlook (EFO) that forecasts real GDP growth of 1.5% in 2025, which is 0.5 percentage points faster than projected in March's EFO. This is because output growth was revised up in the second half of 2024 and growth was stronger than expected in the first quarter of 2025, at 0.7% (the latter was partly due to the temporary frontloading of property transactions and exports). Growth then fell to 0.3% in the second quarter, as these temporary factors unwound, and to 0.1% in the third quarter, when the Jaguar Land Rover shutdown temporarily weighed on growth — both below the OBR's March forecast. Looking ahead, the OBR expects quarterly growth to pick up only gradually as geopolitical uncertainty persists and domestic business and consumer confidence remains subdued. To read the OBR's EFO go to https://obr.uk/efo/economic-and-fiscal-outlook-november-2025.
Licensed under the terms of Open Government Licence v3.0.

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UK GDP: Slow lane growth and little momentum into 2026. The House of Commons Library's latest Economic Indicators briefing shows that UK GDP growth has been modest and has slowed this year. The UK economy has been expanding at an average annual rate of around 1.5% from mid-2024, with GDP growth slowing throughout 2025. GDP is 5.3% higher than it was before the COVID-19 pandemic nearly six years ago. GDP is estimated to have grown by 0.1% in Q3 2025 compared with Q2 2025. Compared to the same quarter a year earlier, Services were the main driver, with output up 1.6% year-on-year, but Manufacturing fell 1.0%, underlining the sector's ongoing weakness. Internationally, UK quarterly growth in Q3 (0.1%) lagged slightly behind the eurozone (0.2%) and matched or underperformed several G7 peers. The briefing also notes that the IMF has nudged up its 2025 UK GDP forecast from 1.2% to 1.3%, but cut its 2026 forecast from 1.4% to 1.3%, reinforcing the picture of modest, rather than dynamic, medium-term growth. To read the Economic Indicators' publication, go to https://researchbriefings.files.parliament.uk/documents/CBP-9040/CBP-9040.pdf.
Licensed under the terms of Open Government Licence v3.0.

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NIESR flags fragile UK recovery as growth slips below forecast​​. The National Institute of Economic and Social Research’s (NIESR) latest GDP Tracker reports that UK GDP grew by just 0.1% in the third quarter, below its forecast and suggesting the economy is "running out of steam" ahead of the Autumn Budget. Growth was driven by services and construction, offsetting weaker production, and largely reflects base effects after an uneven second quarter. Monthly data show a loss of momentum, with GDP contracting by 0.1% in September and August growth revised down to 0.0%. However, the factors behind September’s contraction may prove temporary, as survey data points to an uptick in production activity in October, supported by the restart of production at Jaguar Land Rover. Looking ahead, NIESR expects GDP to grow by 0.2% in the fourth quarter, bolstered by growth in the services sector. Elevated uncertainty among businesses and households continue to pose downside risks to this forecast. To read NIESR's news release, go to ​https://niesr.ac.uk/publications/slowing-momentum-ahead-autumn-budget?type=gdp-trackers.

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Fast-growing but exposed: Allianz Trade's 2025 outlook for Ireland. Allianz Trade's 2025 Ireland Economic Outlook describes an economy that remains one of Europe's strongest-performing, but is increasingly exposed to global headwinds. The Central Bank of Ireland now forecasts real GDP growth of around 10.1% in 2025, easing to about 3.8% in 2026. Exceptional export growth to the US, especially in pharmaceuticals, has driven recent outperformance, helped by pre-tariff stockpiling. However, Ireland's open, multinational-led model leaves it vulnerable to softer global demand, US protectionism and higher effective tariff rates, which could approach 14% by the end of 2025. Allianz Trade also expects Ireland to see a 1% increase in insolvencies this year, followed by a 3% decline in 2026. Despite the improvement, insolvency risk at these levels would still be 9% and 5% higher than pre-pandemic levels, respectively. To read Allianx Trade's Outlook, go to https://www.allianz-trade.com/en_GB/insights/economic-research/2025-ireland-economic-outlook-resilience-amid-global-uncertainty.html.

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UK Outlook: slower growth, sticky inflation and stubborn insolvencies. Allianz Trade's report, UK economic outlook: slower growth and rising headwinds, warns that after a stronger-than-expected 2025, the UK faces a more challenging period ahead. Real GDP growth of +1.4% in 2025 is forecast to slow to +0.9% in 2026 before edging up to +1.2% in 2027, while UK inflation remains the highest in the G7 at around +3.4% in 2025, easing only gradually towards the 2% target by 2027. Global risks and rising protectionism are also weighing heavily, with a 45% chance of a global trade recession and a 20% probability each of an AI market correction or a sovereign debt crisis — factors likely to suppress investment and keep insolvencies high. UK insolvencies are expected to stabilise in 2025 but remain around 31% above pre-pandemic levels into 2026. To read Allianz Trade's report, go to https://www.allianz-trade.com/en_GB/insights/economic-research/uk-economic-outlook-slower-growth-and-rising-headwinds.html.

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The UK economy contracted by 0.1% in September 2025, but grew by 1.3% over the quarter. Latest data from the Office for National Statistics (ONS) has found that the UK economy contracted by 0.1% in September 2025, following no growth in August. Monthly GDP is now estimated to be 1.1% above the same month a year ago. Looking over the longer term, GDP is estimated to have grown by 1.3% in the three months to September 2025, compared with the same three months a year ago. Over this period, services grew by 1.6%, construction grew by 1.5%, whereas production fell by 0.9%. To read the ONS' news release, go to https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/september2025.

Licensed under the terms of Open Government Licence v3.0.
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Pre-Budget uncertainty held back private-sector activity. According to the CBI's latest Growth Indicator, firms across the UK private sector once again expect activity to fall in the next three months (weighted balance of -27%). This extends a run of negative predictions that began in late 2024. The downturn is expected to be broad-based, with business volumes in the services sector set to decline (-26%), driven by weak expectations in both business and professional services (-23%) and consumer services (-40%). In both sectors, growth predictions are at their weakest in six months. Both distribution sales (-26%) and manufacturing output (-30%) are also expected to fall, the latter seeing the most negative expectations in almost a year. The disappointing outlook comes as private sector activity fell in the three months to November (-35%), at the fastest pace since August 2020. All sub-sectors reported falling activity. To read the CBI's news release, go to https://www.cbi.org.uk/media-centre/articles/pre-budget-uncertainty-holds-back-private-sector-activity-further-cbi-growth-indicator-november-2025/.

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Manufacturing output volumes fall sharply in the three months to November. According to the CBI’s latest Industrial Trends Survey (ITS), UK manufacturing output volumes fell at an accelerated pace in the three months to November (weighted balance of -30%, down from -16% in the quarter to October), marking the sharpest decline since the three months to August 2020. Manufacturers expect output to fall at a similar pace in the three months to February (-30%). Output decreased in 13 of 17 sub-sectors, with the fall driven by the food, drink and tobacco, chemicals, and mechanical engineering industries. Total order books were reported as below “normal” in November (-37%, from -38% in October), remaining significantly below the long-run average (-14%). Export order books were also below “normal” (-31%, from -46% in October), and below the long-run average (-19%). To read the CBI's news release, go to https://www.cbi.org.uk/media-centre/articles/manufacturing-output-volumes-fall-sharply-in-three-months-to-november-cbi-industrial-trends-survey/.

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Global: Late Payment, Insolvencies & Global Economy

​IMF warns of weakest G20 growth since the financial crisis. The IMF's new report, G20 Report on Strong, Sustainable, Balanced, and Inclusive Growth (SSBIG), finds that G20 growth has been resilient but remains modest. Growth is projected at 3.2% in 2025 and 3.0% in 2026, which are cumulatively 0.2 percentage points lower than in the 2024 SSBIG report. Further ahead, medium-term growth prospects, at 2.9%, are the weakest since the global financial crisis, reflecting ongoing headwinds from protectionism and policy uncertainty. For both G20 advanced and emerging market economies, near-term growth is expected to stay well below historical averages. However, within this picture, there are some regional differences: growth in the European Union is expected to pick up slightly compared with 2024 outturns, while in the African Union it is forecast to move back towards its historical average rates. To read the IMF's report, go to https://www.imf.org/en/-/media/files/research/imf-and-g20/2025/g20-report-on-strong-sustainable-balanced-and-inclusive-growth.pdf.

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Q3 2025 EU GDP: Modest pickup with uneven growth across member states. Eurostat's latest release shows that, in Q3 2025, seasonally adjusted GDP rose by 0.3% in the euro area and 0.4% in the EU — an acceleration from Q2 (+0.1% and +0.3% respectively). Year on year, GDP increased by 1.4% in the euro area and 1.6% in the EU, slightly slower than in Q2. Growth was broad-based but uneven across member states: Denmark (+2.3%) recorded the strongest quarterly rise, followed by Luxembourg and Sweden (both +1.1%), while Ireland and Finland (-0.3%) and Romania (-0.2%) saw contractions. On the expenditure side, household consumption, government spending and investment all contributed positively to growth, while net trade subtracted as imports grew faster than exports. To read Eurostat's news release, go to https://ec.europa.eu/eurostat/web/products-euro-indicators/w/2-05122025-ap.

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Global insolvencies are "rising fast". Allianz Trade's latest Global Insolvency Outlook report reveals "perhaps the strongest warning that world trade has entered a prolonged period of volatility: global business insolvencies are rising fast." Allianz Trade forecasts that global insolvencies will rise by 6% in 2025, and by a further 5% in 2026. Next year will mark five consecutive years of increases, reaching a record high in bankruptcies, 24% higher than pre-pandemic levels. Export-reliant economies could see the sharpest increases in insolvencies. In real terms, France could see an additional 6,000 insolvent companies by the end of 2025, Spain nearly 3,000, and Canada almost 2,000. In 2026, the bulk of the global increase in insolvencies is likely to come from the US and China, where insolvencies are expected to rise by 8% and 10%, respectively. To read Allianz Trade's news release, go to https://www.allianz-trade.com/en_global/news-insights/business-tips-and-trade-advice/global-trade-in-2026-navigating-volatility.html​.

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The global economy proves resilient but remains fragile. According to the OECD's latest Economic Outlook, the global economy has proved resilient this year but underlying fragilities remain. The Outlook projects global growth slowing from 3.2% in 2025 to 2.9% in 2026, before picking up to 3.1% in 2027. GDP growth in the US is projected to decline from 2.0% in 2025 to 1.7% in 2026 and 1.9% in 2027. In the euro area, growth is expected to be 1.3% in 2025, 1.2% in 2026 and 1.4% in 2027. China's growth is projected to ease from 5.0% in 2025 to 4.4% in 2026 and 4.3% in 2027. Annual headline inflation in the G20 economies is expected to moderate to 2.9% and 2.5% in 2026 and 2027 respectively, from 3.4% this year. By mid-2027, inflation is projected to be back to target in most major economies. To read the OECD's news release, go to https://www.oecd.org/en/about/news/press-releases/2025/12/global-economy-proves-resilient-but-remains-fragile.html.

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"Stagflation light", but there are reasons to be cautiously optimistic about the state of the global economy. Allianz Trade's latest Economic Outlook report warns that global trade in 2026 is set to remain weak, with trade volume growth forecast to slow to just 0.6%, down from 2% in 2025, as higher tariffs and rising costs squeeze exporters - especially port-focused countries. Vietnam, Canada and Mexico could, in theory, see their 2026 GDP growth hit by -0.4 to -1.3% due to the latest tariff hikes announced by the US. The cost for the US is estimated at -0.4%. The Outlook also predicts global GDP growth edging down to 2.5% in 2026 from 2.7% in 2025, with inflation still elevated at 3.5%, a combination described as "stagflation light." But despite these conditions, Allianz Trade suggests there are reasons to be cautiously optimistic about the global economy. Growth is set to continue, albeit modestly, with little sign of a deepening crisis on the horizon. To read Allianz Trade's news release, go to https://www.allianz-trade.com/en_global/news-insights/business-tips-and-trade-advice/global-trade-in-2026-navigating-volatility.html.

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Credit Management News & Resources

Atradius launches a free tool to help UK SMEs assess their financial resilience. According to the latest Atradius Resilience Gap Report, business risks have eaten into UK SMEs' emergency cash reserves, reducing them by 76% over the past year. Atradius' Business Resilience Calculator is a free online tool that helps UK businesses assess how prepared they are for disruption and financial shocks. Using a resilience score, it compares a firm’s current protection (such as liquidity and emergency reserves) with the level of protection estimated to be needed if conditions worsen. The calculator is designed to highlight any "resilience gap", showing where a business may be more exposed than expected. It also offers suggestions and resources to help users strengthen their financial resilience and make more informed decisions about risk management, investment and growth. For more information and to calculate your resilience, go to https://atradius.co.uk/digital-solutions/resilience-gap-calculator.

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Why automation in credit management is now a priority. KPMG has published new guidance on how companies can automate credit management as rising geopolitical risks, supply chain disruption and higher financing costs push customer risk up the treasury agenda. The article sets out a staged approach rather than a "big bang": first harmonising data (customer master records, exposures and payment behaviour), then standardising processes before introducing a central credit management platform. From there, firms can layer on automation tools such as rule-based and score-based limit setting, automated credit checks, system links to credit insurers and information providers, and workflow-driven collections and reporting. KPMG also highlights how emerging AI and "agentic" AI tools could support tasks like analysing financials and forecasting payment behaviour.

To read KPMG’s article, go to https://kpmg.com/de/en/home/insights/2025/11/automation-approaches-credit-management.html.

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Trade credit insurance vs self-insurance: understanding your options. Atradius has published a guide comparing self-insurance with trade credit insurance from a cash-flow and risk-management perspective. Atradius stresses that retaining bad-debt risk in-house ties up liquidity and leaves firms exposed to single large failures, whereas credit insurance converts unpredictable losses into a budgetable premium and can improve bank lending terms by securing receivables. A worked example shows that a €10,000 unpaid invoice at a 12.5% margin requires €80,000 in new sales to recover; with 90% of the invoice insured, the recovery hurdle falls to €8,000. Atradius notes that "seen through the lens of opportunity cost, credit insurance rarely sits as a passive expense. It acts as a catalyst for capital efficiency, turning risk management from a defensive cost into an active driver of value. More than a safety net, it becomes an instrument of financial agility." To read Atradius' guide, go to https://atradius.co.uk/knowledge-and-research/resources/credit-insurance-vs-self-insurance-understanding-your-options.

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Events & Professional Development​

12th Supply Chain Finance Summit. 28 - 29 January 2026, Mayer Brown in London.

Why SCFS26 Is Set to Be a Defining Event for the Supply Chain Finance Industry
The 12th Supply Chain Finance Summit (SCFS26), taking place on 28 - 29 January 2026 at Mayer Brown in London, is set to bring together many of the most influential organisations shaping the future of global trade and working-capital finance. With supply chains navigating geopolitical uncertainty, regulatory change and rapid
technological disruption, this year’s summit arrives at a decisive moment for the industry.
The event features senior representatives from major international banks including HSBC, Citi, Société Générale, Danske Bank, ING, Lloyds Banking Group, MUFG, Rabobank, Bank of America, JP Morgan, Intesa San Paolo, SMBC, Credit Agricole and Siemens Bank, alongside global institutions such as the IFC and the EBRD. Corporate voices also play a substantive role, with speakers from organisations including Liberty Global, Bio-Rad, Danone and others contributing perspectives from the real economy.
Across two days, the summit will address the sector’s most pressing themes: the outlook for global SCF growth, the impact of evolving accounting and regulatory standards, ESG integration, and the technologies reshaping financing models - from embedded SCF and AI-driven risk tools to digital documentation and tokenisation.

For practitioners, policymakers and corporates seeking a clear, forward-looking view of supply chain finance, SCFS26 offers a concentrated forum where industry leaders assess risks, share practical developments and explore the opportunities emerging across global markets.

SCFS26 offers delegates a comprehensive overview of a sector undergoing rapid evolution. For organisations seeking clarity amid shifting market conditions, and for those looking to benchmark their strategies against industry leaders - the summit provides a timely and substantive forum for discussion. Grab your tickets here: https://bcrpub.com/event/supply-chain-finance-summit-2026/.

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UK Invoice Finance and ABL Summit. 2-3 March 2026. The Birmingham Conference & Events Centre.
Almost one in three UK SMEs say the cost of finance is holding back their growth in 2025. Rising borrowing costs, tough credit conditions, and persistent late payments are leaving many businesses searching for more flexible and innovative funding options.

That’s why the new UK Invoice Finance and ABL Summit (UKIF26), hosted by BCR in partnership with UK Finance, comes at such a pivotal moment. The summit will tackle the SME funding gap head-on, exploring how invoice finance and asset-based lending can step up to deliver more value, scale, and resilience for the sector.

UKIF26 will highlight how receivables financiers are:

• Leveraging cutting-edge technologies, including AI and data-driven risk tools.

• Navigating government initiatives and evolving regulation.

• Developing strategies to counter late payment practices and credit risk.

• Creating new ways to attract clients and increase engagement from existing users.

The central question: is this enough to accelerate market growth, or does the sector need to go further?

For banks, independents, fintechs, and all professionals engaged in the UK invoice finance ecosystem, UKIF26 is an unmissable opportunity. Attendees will gain fresh insight into an industry whose business model is evolving rapidly, and unlock new avenues for growth.

Beyond the content, the summit provides exceptional networking and deal-making opportunities, with real-life case studies and solution-sharing from industry leaders.
For more information, go to https://bcrpub.com/event/second-annual-uk-invoice-abl-summit/.

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2026 Receivables Finance International. 5-6 May, Hilton Berlin

Hosted by BCR, the 2026 Receivables Finance International (RFIx26) continues its legacy as the premier global gathering for the receivables finance industry. Now in its 26th year, RFIx brings together leading industry figures from around the world for two days of forward-looking insight, strategic dialogue, and high-level networking in Berlin.

In 2026, RFIx will spotlight innovation, collaboration, and growth across a rapidly evolving financial ecosystem. As markets adapt to new technologies, regulatory shifts, and global economic trends, the event will explore how receivables finance continues to transform to meet the needs of modern trade.

Each year, RFIx attracts an exceptional mix of participants, from trade banks and independent finance providers to fintechs, insurers, software innovators, consultants, legal experts, and corporate treasurers – all shaping the future of working capital finance.

Join us in 2026 as we connect, collaborate, and chart the next chapter of receivables finance.

Programme Coming Soon

For more information, go to https://bcrpub.com/event/26th-annual-receivables-finance-international/.

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TXF Middle East & Africa 2026: Agency, Energy & Infrastructure Finance. 7 - 9 April, Dubai
TXF returns to Dubai for MEA 2026, where we'll be connecting ECA, project, and development finance dealmakers across the Middle East and Africa, as more credit lines flow between both regions. One ticket grants you access to the most active exporters, borrowers, infrastructure and energy developers, project sponsors, equity investment funds, institutional investors, debt providers, ECAs, DFIs and more. Key topics include:

• Borrowers' Choice: Exploring investment opportunity in the Middle East

• Sovereign finance in focus: How can ECAs better support sovereign guaranteed projects?

• Financing Emerging Markets: What opportunities are available in MENA’s smaller markets?

• The ESG Debate: Examining the impact of ESGs on project development in Africa and the Middle East

• The Role of ECAs, DFIs and MDBs: Their latest projects, policies and initiatives

98% of previous attendees said they will do more business as a result of attending the event. Don’t miss out. Find out more and secure your place here:
https://mea2026.exilegroup.com/.

Exclusive 15% Discount for CIN Readers. Contact marketing@exilegroup.com and quoteCIN15 to apply for 15% off.​

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TXF Global 2026: Export, Agency & Project Finance. 9 - 11 June, Prague
Gather with 1,500 senior decision-makers shaping the future of export, project, and development finance, where global deal origination begins.Exile Group once again brings together our three key brands TXF (export

finance), Proximo (project finance) and Uxolo (development finance) for an unbeatable opportunity to network, collaborate and originate deals.

• Connect with the powerhouses of the industry: Step into this premier international gathering where over 1500 dealmakers from ECAs, DFIs, exporters, borrowers, developers, project sponsors, SOEs, government ministries, commercial banks, private insurers, law firms and institutional investors converge at the go-to event of the year!

• Unlock your origination potential: With just one trip, you'll be able to collaborate and originate deals with a wide range of stakeholders, and hold multiple meetings in one place for a jam-packed three days that will give you a fantastic return on your investment.

• Diversify your pipeline: With a global presence (over 65 countries in 2025), attendees will have the opportunity to learn from diverse perspectives, discover international best practices, and foster cross-border collaboration to enrich their own strategies and grow their business.

86% of past attendees confirmed they will do more business as a result of attending the conference, making the event a true catalyst for the markets we cover. This is the event of the year you cannot afford to miss. Secure your presence, view the agenda and find out more here: https://global2026.exilegroup.com/.

Exclusive 15% Discount for CIN Readers. Contact marketing@exilegroup.com and quoteCIN15 to apply for 15% off.

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TXF Credit & Distribution Day 2025. 12 June, Prague
We are delighted to bring an all-new Credit & Distribution day to Prague! This event will examine how underwriters, brokers and distribution and syndication bankers are reassessing risk, adapting to the latest regulatory change, and finding new ways to distribute capital efficiently.

Why Attend?

• Optimize capital structure, ensure regulatory compliance, and enable sustainable business growth

• Build a diversified risk portfolio, foster strong partnerships, and create cross- sell opportunities with banks, ECAs, DFIs, and corporates

• Access bespoke, high-quality risks to enhance portfolio diversification.

Unlock your potential. Don’t miss this opportunity to connect in-person with banks, ECAs, DFIs, corporates, insurers, brokers, asset managers and more for new business opportunities and lasting partnerships. Spaces are limited - to find out more and book your place visit: https://creditanddistribution26.exilegroup.com/.
Exclusive 15% Discount for CIN Readers. Contact marketing@exilegroup.com and quote
CIN15 to apply for 15% off.

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About this month's Sponsor: Atradius Credit Specialties

Atradius is a leading provider in the global credit and political risk insurance market, with a presence in 54 countries across five continents. Our comprehensive suite of credit management solutions is designed to support clients throughout the entire credit sales cycle, from initial contract discussions to final payment execution. Leveraging the extensive experience in the team, Credit Specialties provides in depth analysis of sovereign and country risk.
In 2025, Atradius Credit Specialties marks its 20th anniversary, two decades of delivering bespoke credit insurance solutions for complex and high-value transactions. Our team of specialists adopts a multidisciplinary, multi-product approach to structure tailored coverage for unique contractual arrangements, extended tenors, and large-scale projects. We work in close collaboration with our clients from the outset, delivering strategic risk transfer solutions aligned with their business objectives.
To learn how Atradius can support your organisation, please contact one of our credit insurance experts or visit www.atradius.co.uk.