During remarks delivered today at a Private Sector Workshop, Senior Minister in the Office of the President with Responsibility for Finance, Dr. Ashni Singh, invited local businesses to explore avenues to tap into a £3 billion financing support facility from UK Export Finance (UKEF), the United Kingdom’s Export Credit Agency.
The Workshop was facilitated by the British High Commission and UKEF at the World Trade Centre in Kingston, Georgetown under the theme ‘Unlocking Financing Opportunities for Guyanese Businesses’. It provided a forum for local businesses to learn about how UK-backed credit could be mobilised to procure equipment, technology and other products and services. Priority sectors include renewable energy, transport infrastructure, healthcare and agriculture.
In his remarks, Dr. Singh referenced the UKEF’s expansion of export financing support to £3 billion in October 2025 as a resounding statement of confidence in the commercial opportunities available in Guyana. The Senior Minister further emphasised that the overwhelming majority of the financing support is still available, with Government having utilised only a small fraction.
Minister Singh also highlighted the surge in demand for credit that accompanied Guyana’s rapid economic take-off since 2020, within the Government’s conducive policy framework. In this regard, credit to the private sector more than doubled between end-2020 and end-2025, with there being a consistent story of strong demand across a wide array of sectors, including Agriculture, Mining and Quarrying, Manufacturing, Services, and Real Estate Mortgages. Notably, this credit surge was accompanied by an appreciable decline in non-performing loans, which fell from 10.8 percent in 2020 to 1.3 percent in 2025, evidencing a massive scale of demand stemming from eminently bankable projects.
Businesses financed from sources outside Guyana has also ascended steeply since 2020. Cumulative financing from IDB invest climbed from less than US$10 million in 2020 to now more than US$260 million, and only yesterday the institution’s largest ever domestic transaction was approved.
Notwithstanding Guyana’s massive expansion in credit, Dr. Singh urged even greater dynamism, encouraging local banks to adopt more accommodative lending stances without sacrificing prudential norms, while inviting local businesses to also tap into external financing opportunities, such as the £3 billion envelope from the UKEF. The flexibility of UKEF financing support was also lauded, with eligibility requiring a minimum of only 20 percent of good and services being sourced from UK businesses. The Senior Minister then thanked the British High Commission and UKEF for hosting the session, as he noted that some participants may already be procuring UK content, and could therefore be eligible for UKEF financing or support.
The event saw remarks also being delivered by Mr. Joseph Fisher, British High Commissioner to Guyana, who pointed out that this is the 60th year since Guyana and the United Kingdom (UK) established diplomatic relations. Ambassador Fisher also recognised Guyana’s status as the UK’s largest trading partner in the Commonwealth Caribbean by a substantial margin, along with the fact that bilateral trade between the two countries is on an upward trajectory.
In their presentation, the UKEF team indicated that financing may be mobilised in more than 60 currencies, including US dollars, Sterling Pounds and Euros, through 2 modalities: either a bank guarantee, where the UKEF acts as a credit enhancer to lower borrowing costs; or in limited circumstances, direct lending at a fixed interest rate. They elaborated on 2 guarantee facilities that business may contract: the Standard Buyer Loan Guarantee (SBLG); and the Guarantee for Repeat Orders (GRO). Both facilities provide financing of up to 85 percent of the contract amount, typically facilitate bank financing of between £1 million and £30 million, and attract a support fee which could be included as part of the loan.
After their presentation, the UKEF team fielded questions from participants who hailed from a wide cross-section of industries and business support organisations.
