THE government and private sector of Guyana will now have access to additional financing from the United Kingdom Export Finance (EF) as the Market Risk Appetite (MRA) has increased from 750 million pounds to 2.1 billion pounds.
On Tuesday, UK Minister for the Americas, Caribbean, and Overseas Territories, David Rutley, made this announcement in the presence of Dr Ashni Singh, the Senior Minister in the Office of the President with responsibility for Finance and Public Service, along with other notable officials.
UKEF provides assistance to overseas buyers globally, enabling them to access the necessary financial support to procure from the UK. This initiative enhances the competitiveness of their bids and unlocks the potential of the UK supply chain.
“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.
t 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 delivered a brief speech at the event, conveyed gratitude to the UK Government on behalf of Guyana for demonstrating strong trust in the domestic 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.
The event was attended by Jane Miller, the British High Commissioner to Guyana, members of the private sector, and other officials.
Photo Reference: Senior Minister in the Office of the President with responsibility for Finance and Public Service, Dr Ashni Singh (centre) shakes the hand of UK Minister for the Americas, Caribbean and Overseas Territories, David Rutley, among other prominent officials Tuesday
Source: Guyaana Chronicle (Feb 2024)