Dhaka: UK Export Finance (UKEF) has unveiled a financing capacity of up to £2 billion for eligible Bangladeshi buyers to execute projects involving British goods and services across several key development sectors. UKEF, the UK's export credit agency, is actively engaging with Bangladeshi government officials, financial institutions, and business leaders this week to assess financing opportunities, as highlighted in a press release from the British High Commission.
According to Bangladesh Sangbad Sangstha, this initiative highlights UKEF's available country capacity, ranging from £1 billion to £2 billion, aimed at assisting eligible Bangladeshi buyers in accessing competitive financing for projects in sectors such as transport, agriculture, healthcare, airports, manufacturing, renewable energy, and infrastructure. A UK delegation is currently visiting Bangladesh from September 2 to 4 to discuss potential projects where British expertise, technology, and financing could significantly contribute to Bangladesh's development goals.
"The UK and Bangladesh have an important and long-standing economic relationship," stated UK Trade Counsellor for South Asia, Mark Birrell. "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 various financial products, including guarantees, loans, and insurance, designed to unlock competitive financing for projects involving UK suppliers. These financial support mechanisms are available in more than 60 local currencies and include 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 includes Mark 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 plans to meet with government representatives, banks, and private sector leaders to identify potential areas for cooperation.
Their agenda also includes discussions with financial institutions and business entities, such as Standard Chartered Bangladesh, HSBC, and ICC Bangladesh, to explore how UKEF financing could meet funding needs and promote enhanced trade and investment between Bangladesh and the UK.