UK Export Finance offers up to £2b for Bangladesh projects

Up to £2 billion in UK-backed financing is available to eligible Bangladeshi buyers for development projects involving British goods and services across key sectors, according to Mark Birrell, trade counsellor for South Asia at UK Export Finance (UKEF).

The financing could support projects in transport, agriculture, healthcare, airports, manufacturing, renewable energy and infrastructure, he said at a meeting with ICC Bangladesh President Mahbubur Rahman and members of the executive board at the ICCB Secretariat in Dhaka yesterday.

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A UKEF delegation led by Birrell is visiting Bangladesh from September 2 to 4 and held meetings with government representatives, banks and private-sector leaders to explore cooperation and identify potential projects.

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

“The UK and Bangladesh have an important and long-standing economic relationship,” Birrell said.

“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.”

ICCB President Mahbubur highlighted the longstanding economic ties between the two countries, saying Bangladesh’s infrastructure needs and growing private sector offer 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 areas for UKEF support.

He also expressed interest in working with UKEF, the UK Department for Business and Trade, and British businesses to develop a pipeline of viable projects.

Sandeep Kudtarkar, UKEF’s country head for Bangladesh, India and Nepal, and Rohini Aggarwal, head of trade policy for South Asia, attended the meeting, along with representatives of BCI, CCCI, BTMA, BAPI and ICCB.