Guyana could now borrow as much as £3 Billion from the United Kingdom, the British High Commission here in Georgetown announced on Wednesday.

The High Commission explained that UK Export Finance (UKEF) – the UK’s official export credit agency – has raised its financing capacity for Guyana from £2.1 billion to £3 billion.

The UK Export Finance is the UK government’s export to credit agency, providing finance and insurance to help exporters win contracts, fulfill the orders and get paid.

The British High Commission said the increase is a reflection of the UK’s confidence in Guyana’s economic trajectory and fiscal sustainability, and marks a further deepening of the bilateral relationship between our two nations.

According to the British High Commission, the announcement was made by a delegation from UKEF and the Deputy Trade Commissioner for Latin America and the Caribbean in a meeting with President Irfaan Ali.

It said during the meeting, President Ali set out his priorities for UKEF collaboration over the next five years.

“This announcement comes at a pivotal moment, as Guyana accelerates its infrastructural development and positions itself as a key investment destination, reinforcing the UK’s role as a trusted partner in driving inclusive growth,” it said. The British High Commission said it looks forward to supporting sustainable growth and shared prosperity through this collaboration between the UK and Guyana.

Just last year, the UK increased financial support for projects in Guyana.

Related posts:

Trade between Guyana and the UK reached £1.6 Billion in 2023 IDB report finds more Guyanese gaining access to financing from lending institutions Government awaiting approval of $24 billion in financing for Soesdyke/Linden highway repairs ExxonMobil and partners commit $20 Billion for capacity building in Guyana over next decade