UK targets construction projects in Central America


0

The Memorandum of Understanding (MoU) between UK Export Finance and the Central American Bank for Economic Integration (CABEI) will enable closer economic cooperation and support project development in the region. This agreement ensures a closer relationship between the two institutions and will help fund major projects in Central America that include UK exports, and support UK businesses and jobs – a condition of UKEF’s involvement abroad. The agreement will encourage co-financing of major clean energy, infrastructure and construction projects in the region, while bringing in expertise from the UK. Countries that could benefit from the co-financing agreement include the Dominican Republic, Panama, Guatemala, Honduras, El Salvador, Nicaragua and Costa Rica. UK Export Finance said governments and companies in Central America looking to raise funds to develop larger projects could benefit from working with CABEI while also reaching out to UKEF support, which aims to reduce the cost of financing and distribute it to buyers of British exports. In the past year, a number of countries in Central America have benefited from significant increases in the UKEF’s country borders as the ministry has established a greater presence in the region. This means that at least £2.5 billion is available for new business each in Guatemala, Honduras and Panama and £1.5 billion for Costa Rica, El Salvador and Nicaragua. Lewis Taylor, Chief Executive of UKEF, said: “I am delighted today to sign a Memorandum of Understanding with CABEI. In doing so, we have agreed on a strong channel of cooperation between our two organizations in order to find and finance projects in Central America that involve UK exports. “Elsewhere in the world, we have changed lives, supporting healthcare projects in Ghana, clean energy in Taiwan and transportation projects in Egypt. By working with CABEI, we can bring this expertise to Central America.” Dante Mossi, CEO of CABEI, said: “Working together we can bring more British expertise to Central America. CABEI is committed to supporting the UK’s ambition for global Britain and this MoU is evidence of our desire to strengthen the social and economic links between both markets. Do you have a story? Email [email protected]


Like it? Share with your friends!

0

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
Joseph

0 Comments

Your email address will not be published. Required fields are marked *