Guyanese businesses are being urged to take advantage of a £3 Billion financing facility available through UK Export Finance (UKEF). Senior Minister responsible for Finance, Dr. Ashni Singh, has explained that the facility represents a significant opportunity for companies seeking to expand their operations and invest in new equipment and technology.
Speaking during a private sector workshop hosted by the British High Commission and UK Export Finance at the World Trade Centre in Georgetown, the Finance Minister pointed to UKEF’s decision in October 2025 to expand its export financing support for Guyana to £3 billion, describing the move as a strong indication of the UK’s confidence in the commercial opportunities emerging from Guyana’s rapidly expanding economy.
He said the majority of the financing remains available, with the Guyanese Government having accessed only a small portion of the facility to date.
The Finance Minister highlighted the sharp increase in domestic credit since 2020, reflecting growing demand for financing as Guyana’s economy accelerated.
According to the Dr. Singh, credit to the private sector more than doubled between the end of 2020 and the end of 2025, with strong demand recorded across sectors including agriculture, mining and quarrying, manufacturing, services and real estate mortgages.
In a release from the Ministry of Finance, the Minister was quoted as saying that the banking sector experienced a substantial improvement in loan quality.
Non-performing loans fell from 10.8 per cent in 2020 to 1.3 per cent in 2025, which the Minister said demonstrated that much of the increased demand for credit was being driven by commercially viable and “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 Minister stated.
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.
It was explained 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. 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.
