UKEF offers up to £2b financing support for Bangladesh projects

UK Export Finance (UKEF), the UK government's export credit agency, has highlighted financing capacity of up to £2 billion for eligible Bangladeshi buyers seeking to undertake projects involving British goods and services.

The agency is engaging with government officials, financial institutions and business leaders during a visit to Bangladesh to explore financing opportunities and identify projects where UK expertise, technology and financing could support the country's development priorities, according to a press release.

With country capacity ranging between £1 billion and £2 billion, UKEF can support eligible projects in sectors including transport, agriculture, healthcare, airports, manufacturing, renewable energy and infrastructure.

A UKEF delegation met with International Chamber of Commerce Bangladesh (ICC Bangladesh) President Mahbubur Rahman and members of its executive board on 3 September at the ICC Bangladesh Secretariat to discuss potential areas of cooperation and opportunities to mobilise UK-backed financing for projects in Bangladesh.

Welcoming the delegation, Mahbubur Rahman highlighted the longstanding economic and commercial relationship between Bangladesh and the UK.

He said Bangladesh's growing infrastructure needs and expanding private sector offer significant opportunities for greater UK investment, technology and long-term financing.

He also highlighted the potential for UKEF support in priority sectors such as renewable energy, transport and logistics, airports and aviation, healthcare, agriculture and agro-processing, and climate-resilient infrastructure.

Mahbubur Rahman expressed ICC Bangladesh's interest in working with UKEF, the UK Department for Business and Trade and British businesses to identify a pipeline of viable projects that could benefit from UK expertise and financing.

During the meeting, the UKEF delegation briefed ICC Bangladesh members on the financing facilities available for eligible projects involving UK goods and services.

The discussions focused on how UKEF financing could help meet funding requirements for major development and private-sector projects while facilitating greater trade, investment and business cooperation between Bangladesh and the UK.

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

"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 said.

UKEF provides guarantees, loans and insurance to help unlock competitive financing for projects involving UK suppliers. Its support is available 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 delegation is also scheduled to meet government representatives, banks and private-sector leaders during its Bangladesh visit from 2 to 4 September.

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

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

The ICC Bangladesh meeting was also attended by ICCB Vice President Naser Ezaz Bijoy; FBCCI Administrator Md Fazlul Hoque; BCI President Anwar-Ul-Alam Chowdhury (Parvez); CCCI President Mohammed Amirul Haque; BTMA President Showkat Aziz Russell; BAPI Vice President Syed S Kaiser Kabir; ICCB Secretary General Ataur Rahman; General Manager Ajay Bihari Saha; and Deputy General Manager Syeda Shahnewaz Lotika.