Wrightbus receives government-backed loan worth GBP26m to fund export strategy
By Bradley Osborne - 10th November 2022
UK – UK Export Finance, the UK government’s export credit agency, has announced it will provide an 80% guarantee on a GBP26m loan from Barclays plc to Wrightbus, a bus manufacturer based in Ballymena. The loan will support Wrightbus’ plans to export its zero-emission buses to markets such as Italy, France, Spain and Southeast Asia.
Wrightbus secured two loans from Barclays: a GBP18m Green Trade Loan and a GBP8m Green Bank Guarantee. The Northern Irish manufacturer has said that the government-backed credit will support its plans to grow exports to over 40% of its annual turnover. Wrightbus aims to produce 3,000 zero-emission buses by 2024, and it will be hiring 300 more workers in order to achieve its targets.
