UK offers up to £2bn financing for Bangladesh projects

UK Export Finance (UKEF) has highlighted up to 2 billion pounds in financing capacity for eligible Bangladeshi buyers to undertake projects involving British goods and services across key development sectors.

UKEF, the UK government's export credit agency, is engaging with government officials, financial institutions and business leaders in Bangladesh this week to explore financing opportunities, according to a British High Commission press release issued today.

With an available country capacity of between 1 billion and 2 billion, UKEF can help eligible Bangladeshi buyers access competitive financing for projects in transport, agriculture, healthcare, airports, manufacturing, renewable energy and infrastructure.

A UK delegation is visiting Bangladesh from September 2 to 4 to discuss potential projects where British expertise, technology and financing could contribute to the country's development ambitions.

"The UK and Bangladesh have an important and long-standing economic relationship," UK Trade Counsellor for South Asia Mark Birrell said.

"This visit will allow us to hear directly from government and business leaders and explore where UK companies, expertise and finance can support innovation, growth and development," he added.

UKEF offers financial products, including guarantees, loans and insurance, designed to help unlock competitive financing for projects involving UK suppliers.

Its support can be provided in more than 60 local currencies and includes long-term financing instruments such as the Buyer Credit Facility, Standard Buyer Loan Guarantee, Direct Lending Facility and Early Project Services Guarantee.

The visiting delegation comprises Birrell, UKEF Country Head for India, Bangladesh and Nepal Sandeep Kudtarkar, and Head of Trade Policy for South Asia Rohini Aggarwal.

During the visit, the delegation is scheduled to engage with government representatives, banks and private sector leaders to identify potential areas for cooperation.

Its programme also includes engagements with financial institutions and business bodies, including Standard Chartered Bangladesh, HSBC and ICC Bangladesh, to discuss how UKEF financing could help meet funding requirements and facilitate greater trade and investment between Bangladesh and the UK.