– to facilitate greater collaboration in priority sectors identified by gov’t over the next five years

THE United Kingdom (UK) has raised its export finance support for Guyana from £2.1 billion to £3 billion, in a significant move aimed at deepening bilateral relations and backing the South American nation’s rapid economic growth.

The British High Commission, in a statement on Wednesday, said the increased financing capacity, provided through UK Export Finance (UKEF), was announced during a high-level meeting between a UKEF delegation, His Majesty’s Deputy Trade Commissioner for Latin America and the Caribbean, and Guyana’s President Dr. Irfaan Ali. According to the statement, this development comes as Guyana ramps up its infrastructure projects and continues to position itself as a leading investment hub in the region.

The enhanced UKEF support is expected to facilitate greater collaboration in priority sectors identified by the Guyanese government over the next five years.

The British High Commission looks forward to supporting sustainable growth and shared prosperity through this collaboration between the UK and Guyana,” the statement read.

Trade between Guyana and the UK has grown substantially, and new opportunities for investment are emerging across multiple sectors. President Ali had previously emphasised the collaboration between the two nations last year in the areas of infrastructure, shipping, logistics, agriculture, tourism, and transport services.

These developments, he noted, have accelerated cooperation between the two countries, and expanded business opportunities.

Last year, Guyana was recognised as the UK’s largest trading partner in the region; a point emphasised by British officials during a reception held in honour of His Majesty’s Trade Commissioner for Latin America and the Caribbean Jonathan Knott.