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Guyana hails UK’s £3B credit boost
…says it is a major vote of confidence in country’s economic rise
(Kaieteur News) – Senior Minister in the Office of the President with Responsibility for Finance, Dr. Ashni K. Singh, has welcomed the United Kingdom Export Finance’s (UKEF) decision to increase its financing capacity for Guyana from £2.1 billion to £3 billion.
President Irfaan Ali and officials of the United Kingdom and some of his ministers
The minister hailed the significant increase as a powerful signal of the UK’s strong and growing confidence in Guyana’s robust economic trajectory.
In a press release, Dr. Singh said the enhanced support from UKEF is expected to assist in ramping up development in priority sectors identified by the Government of Guyana over the next five years. Furthermore, Guyana’s private sector is also expected to benefit from additional financing to expand their operations and form strategic partnership with British companies.
The Minister has expressed gratitude on behalf of the Government of Guyana, to the UK Government for their support over the years, which has been instrumental in fostering collaboration between the two nations, as Guyana continues to accelerate its development and solidify its position as a leading investment hub in the Region.
The United Kingdom on Wednesday announced that it had increased its export credit ceiling for Guyana from £2.1 billion to £3 billion, signalling growing confidence in the country’s economic expansion and fiscal stability. The announcement was made by the UK Export Finance (UKEF) — the UK government’s official export credit agency during a meeting with President Dr. Mohamed Irfaan Ali, attended by a UKEF delegation and His Majesty’s Deputy Trade Commissioner for Latin America and the Caribbean, Jonathan Knott.
According to a statement, the higher financing capacity “reflects the UK’s confidence in Guyana’s economic trajectory and fiscal sustainability, and marks a further deepening of bilateral relations between the two nations.” President Ali, in outlining his priorities for UKEF support, said the announcement comes at a “pivotal moment” as Guyana ramps up infrastructure development and strengthens its position as a major investment destination. “The British High Commission looks forward to supporting sustainable growth and shared prosperity through this collaboration between the UK and Guyana,” the statement concluded.
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