Gov’t, local private sector to access additional financing from UK

─ signalling confidence in govt’s prudent economic management

Guyana’s government and private sector will now access additional financing from the United Kingdom (UK) Export Finance (EF) after the Market Risk Appetite (MRA) has surged from 750 million pounds to 2.1 billion pounds.

This was announced by UK Minister for the Americas, Caribbean, and Overseas Territories, David Rutley, on Tuesday, in the presence of the Senior Minister in the Office of the President with responsibility for Finance and Public Service, Dr Ashni Singh, and other prominent officials.

UKEF aids overseas buyers across the world, in accessing the financial support they need to procure from the UK, unlocking the potential of the UK supply chain by making their bids more competitive.

‘This effectively enhances the level of potential new business that UKEF can support in Guyana across sectors in which the UK offer can be more instrumental. It is also the reflection of the confidence the UK has in the stewardship of the economy of Guyana by the government,” Minister Rutley expressed.

It also paves the way for the government to access competitive, long-term financing for national priority projects ranging from infrastructure, healthcare, education, and transport.

Meanwhile, Dr Singh, who spoke briefly at the event, expressed appreciation to the UK Government on behalf of Guyana for placing strong confidence in the local economy.

He explained that Guyanese private sector companies will have the opportunity to access loans from the UK as well as the government.

“I want to urge the Guyanese private sector…to avail themselves of this opportunity to access financing and this opportunity to do business with British companies,” the finance minister charged.

Dr Singh said this is a demonstration of the longstanding bilateral partnership, history, and shared values between the two nations.

British High Commissioner to Guyana, Jane Miller, members of the private sector, and other officials were also present at the event.