UK signs pact with Central America in favor of trade

UK Export Finance (UKEF) has created a new alliance with the Central American Bank for Economic Integration (CABEI) to support project development within the region.

It was detailed that “this cooperation agreement ensures a closer relationship between the two institutions and will help finance large projects in Central America involving goods and services exported from the UK, which will support business and employment in the UK: one of the UKEF’s conditions for participation in overseas projects”.

They also remember that in the past year, some Central American countries benefited from the significant increase in the UKEF country limit as the ministry strengthened its presence in the region. This means that “at least £2.5 billion is available for new business in Guatemala, Honduras and Panama respectively and £1.5 billion for Costa Rica, El Salvador and Nicaragua”.

Lewis Taylor, CEO of UKEF said: “I am very pleased to sign a Memorandum of Understanding with CABEI today. This company ensures a rich avenue for collaboration between our organization to find and finance projects in Central America that include products and services exported from the UK.

While Dante Mossi, CEO of CABEI said: “By working together we can bring to the Central American region even more knowledge and experience from the UK. CABEI is committed to supporting the UK’s goal of becoming a global Great Britain and this MoU is a sign of our desire to Strengthening the social and economic links between the two markets.

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