UKEF's £2 billion kitty to finance Bangladeshi projects procuring from Britain

UK Export Finance (UKEF) has offered financing support of up to £2 billion for eligible Bangladeshi buyers to undertake projects involving British goods and services in key development sectors.

The UK government’s export credit agency is engaging with government officials, financial institutions and business leaders in Bangladesh to explore financing opportunities and identify potential projects where British expertise, technology and financing can contribute to the country’s development ambitions.

With available country capacity of between £1 billion and £2 billion, UKEF can help eligible Bangladeshi buyers access competitive financing for projects in transport, agriculture, healthcare, airports, manufacturing, renewable energy and infrastructure.

A UKEF delegation held a meeting with International Chamber of Commerce Bangladesh (ICCB) President Mahbubur Rahman and members of its Executive Board at the ICCB Secretariat on Thursday to discuss potential areas of cooperation and opportunities to mobilise UK-backed financing for projects in Bangladesh.

Mahbubur Rahman welcomed the delegation and highlighted the longstanding economic and commercial ties between Bangladesh and the United Kingdom.

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

He identified renewable energy, transport and logistics, airports and aviation, healthcare, agriculture and agro-processing, and climate-resilient infrastructure as priority sectors where UKEF support could play a role.

The ICCB president also expressed interest in working closely 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 ICCB members on its range of 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 offers guarantees, loans and insurance designed to help unlock competitive financing for projects involving UK suppliers.

Its support can be provided 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 visiting delegation is also scheduled to meet government representatives, banks and private-sector leaders during its Bangladesh visit from Sept 2 to 4.

The programme includes meetings with financial institutions and business organisations, 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 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 ICCB 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. -UNB