The UK’s export credit agency UK Export Finance (UKEF) has offered up to £2 billion in financing support for eligible projects in Bangladesh involving British goods and services, as the two countries look to expand trade and investment cooperation.
UKEF is engaging with government officials, financial institutions and business leaders in Bangladesh to identify potential projects that could benefit from UK-backed financing in sectors including infrastructure, renewable energy, transport, healthcare, agriculture and manufacturing.
The agency has indicated a country capacity of between £1 billion and £2 billion to support eligible Bangladeshi buyers seeking to procure UK goods and services for development projects.
A UKEF delegation met with International Chamber of Commerce Bangladesh (ICC Bangladesh) President Mahbubur Rahman and members of its executive board on 3 September to discuss potential areas of cooperation and opportunities for mobilising UK-backed financing.
Rahman said Bangladesh’s growing infrastructure requirements and expanding private sector created opportunities for greater UK investment, technology transfer 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 UK expertise and financing could support Bangladesh’s development needs.
The ICC Bangladesh president also expressed interest in working with UKEF, the UK Department for Business and Trade, and British companies to develop a pipeline of viable projects that could benefit from UK technology and financing.
During the meeting, UKEF officials outlined available financing facilities, including guarantees, loans and insurance products designed to support projects involving UK suppliers.
The discussions focused on how UKEF-backed financing could help meet funding requirements for large-scale public and private sector projects and facilitate greater trade and investment 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.”
UKEF provides financing support through instruments such as the Buyer Credit Facility, Standard Buyer Loan Guarantee, Direct Lending Facility and Early Project Services Guarantee. The agency said its support can be structured in more than 60 local currencies.
The UKEF delegation, comprising Mark Birrell; Sandeep Kudtarkar, UKEF Country Head for India, Bangladesh and Nepal; and Rohini Aggarwal, Head of Trade Policy for South Asia, is visiting Bangladesh from 2 to 4 September.
The delegation is also scheduled to meet representatives from financial institutions, including Standard Chartered Bangladesh and HSBC, as well as government and private sector stakeholders, to explore possible financing opportunities.
The ICC Bangladesh meeting was attended by senior business leaders, including 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.
