UK’s Export Finance Department promises more funding for Guyana’s priority projects

The United Kingdom Export Finance Department (UKEF) is committing additional funds towards state projects that support national development in Guyana.

This was conveyed to Guyana on Tuesday following a meeting between a team from the UK government’s export credit agency and the Ministry of Finance.

A statement from the ministry noted that Minister in the Office of the President with Responsibility for Finance and Public Service, Dr Ashni Singh, along with ministry officials, met with UKEF’s Global Head of Business Origination, Vomic Nur Shah; Regional Head of Business Origination (Americas and South Asia), George Hames; and UKEF’s local Country Head, Camilo Neira, to continue discussions on national projects.

According to the ministry’s update, the two entities explored “new avenues for partnership on investments to accelerate projects for economic development.”

The UK delegation emphasised that Guyana is a strategic priority and that the agency looks forward to providing further financing for priority projects in the country. Minister Singh, in response, expressed the Guyana Government’s appreciation for the UK’s continued support in advancing its development agenda.

A report published on the UK government’s official website, Gov.UK, last March stated that since 2020, UK suppliers have secured over £1.3 billion in new contracts.

It highlighted that in 2021, UKEF assisted the Guyanese government in financing a new paediatric and maternity hospital by providing a €161 million loan. The report noted that 1,900 tonnes of structural steel were shipped to Guyana by UK-based manufacturer Severfield, creating approximately 500 jobs in the UK.

At the time, Jane Miller, British High Commissioner to Guyana, described the project as another significant contribution from the UK towards the development of the transformational 256-bed hospital in Georgetown.

“This is a success we want to build on, with UK Export Finance now making up to £2 billion available to support UK exports to Guyana. This reflects the wealth of opportunities for collaboration available in Guyana’s rapidly growing economy,” the High Commissioner stated.

Commissioner Miller led the UK delegation on Tuesday.