Sep 10, 2026
2 min read
Local businesses have been urged to tap into a £3 billion UK financing facility that remains largely untouched, as Government looks to deepen private sector access to UK-backed credit for equipment, technology and infrastructure.
Senior Minister in the Office of the President with Responsibility for Finance Dr Ashni Singh extended the invitation during remarks at a Private Sector Workshop, facilitated by the British High Commission and UK Export Finance (UKEF), the United Kingdom's Export Credit Agency, at the World Trade Centre in Kingston, Georgetown, under the theme "Unlocking Financing Opportunities for Guyanese Businesses". Priority sectors identified include renewable energy, transport infrastructure, healthcare and agriculture.
Dr Singh referenced UKEF's expansion of export financing support to £3 billion in October 2025 as a resounding statement of confidence in Guyana's commercial opportunities, noting the overwhelming majority of the financing remains untapped, with Government having utilised only a small fraction.
He highlighted a surge in credit demand accompanying Guyana's rapid economic growth since 2020, with credit to the private sector more than doubling between end-2020 and end-2025 across sectors including agriculture, mining and quarrying, manufacturing, services, and real estate mortgages. Non-performing loans fell from 10.8 per cent in 2020 to 1.3 per cent in 2025 over the same period.
Financing from outside Guyana has also climbed, with cumulative IDB Invest financing rising from under US$10 million in 2020 to more than US$260 million, including the institution's largest-ever domestic transaction, approved a day earlier.
Dr Singh urged local banks toward greater lending dynamism without sacrificing prudential norms, noting UKEF eligibility requires only 20 per cent of goods and services be sourced from UK businesses.
British High Commissioner to Guyana Joseph Fisher also delivered remarks, marking 60 years of diplomatic relations between Guyana and the UK and noting Guyana's position as the UK's largest Commonwealth Caribbean trading partner.
The UKEF team outlined financing in more than 60 currencies through bank guarantees or direct lending, covering up to 85 per cent of contract value, before fielding questions from participants.
