UK Export Finance (UKEF) and the Central American Bank for Economic Integration (CABEI) have joined forces to support co-financing of projects in the region that require UK knowledge on clean energy, infrastructure and construction issues.
Funding will be for schemes that include goods and services exported from the UK, as one of the UKEF’s conditions for participating in projects abroad is to support business and employment in this part of Europe.
The alliance will reduce and allocate financing costs to buyers of UK exported products and services. In this way, Costa Rica, El Salvador and Nicaragua have £1.5 million available to new businesses.
“In other parts of the world, we have changed lives by supporting, for example, healthcare projects in Ghana, clean energy projects in Taiwan and transportation projects in Egypt. By collaborating with CABEI, we can bring all this knowledge to Central America.” Louis Taylor, Executive Director of UKEF.
According to the foundation, Central America is home to some of the world’s fastest growing economies. In 2020, trade between the UK and this US region represented more than 1.7 million pounds.
Dante MuseThe CEO of CABEI confirmed that the bank is committed to supporting the UK’s goal of becoming a global Great Britain.