Ali eyes infrastructure projects as UK increases Guyana credit limit

Last Updated on Wednesday, 8 October 2025, 23:17 by Writer

The United Kingdom’s Export Finance (UKEF), the UK’s official export credit agency, has raised its financing capacity for Guyana from £2.1 billion to £3 billion, a move that President Irfaan Ali on Monday said would see his government tapping into for major infrastructural projects.

“This reflects the UK’s confidence in Guyana’s economic trajectory and fiscal sustainability, and marks a further deepening of the bilateral relationship between our two nations,” the British High Commission said in a statement.

Dr Ali said his administration would use some of the funds to extend the Linden to Lethem all-weather road to connect to northern Brazil, a public-private deepwater port in Berbice that would also benefit neighbouring Brazil, health sector projects and modernisation of electricity transmission. “All of that, now, will be discussed to see what projects will be identified for financing under the UKEF envelope,” the President told Demerara Waves Online News.

Hailing the hike in available UKEF financing as a sign of “confidence” that the UK has in Guyana’s economy, development strategy and transformative projects, Dr Ali said the proposed Berbice deep-water port would require Brazil’s support because the northern zone of that South American industrial and commercial giant would use it as a closer and cheaper gateway to other markets. With plans in the pipeline for a second gas-to-energy project, he said those projects would be integrated to form part of a new industrial hub.

The British High Commission said Wednesday’s announcement of support was made by a delegation from UKEF and the UK’s Deputy Trade Commissioner for Latin America and the Caribbean in a meeting with President Ali. The diplomatic mission said during the meeting the President set out his priorities for UKEF collaboration over the next five years.

“This announcement comes at a pivotal moment, as Guyana accelerates its infrastructural development and positions itself as a key investment destination, reinforcing the UK’s role as a trusted partner in driving inclusive growth,” the High Commission said, adding that it looks forward to supporting sustainable growth and shared prosperity through this collaboration between the UK and Guyana.

Chairman of the Private Sector Commission, Gerry Gouveia Jr welcomed UKEF’s increased financing to Guyana, saying, “this is an excellent development for Guyana and the private sector.” “It is a massive opportunity for the local private sector. It opens access to potentially cheaper, long term financing for the diversification of our economy,” he told Demerara Waves Online News.

He says UKEF’s increased financing can promote meaningful partnerships with international agencies which will allow local companies to build capacity and expertise rapidly in order to develop a more globally competitive product. “These funds usually promote these JV (join-venture) agreements to foster stronger local capacity building and engagement,” he said.

“This is most welcome. The decision signals strong confidence in Guyana’s economy and the direction we are heading. It is important to note that this facility is not limited to government projects but also opens new doors for collaboration between local companies and UK firms, strengthening reciprocal trade between our two countries. Access to financing is vital for private sector growth and expansion, and I encourage local businesses to actively explore how this facility can help them expand operations and create new ventures through partnerships and access to British companies, products, and services.”

PSC Secretary and chair of that apex business chamber’s Trade and Investment Committee, Dr Clinton Urling said UKEF’s facility is not limited to government projects but also opens new doors for collaboration between local companies and UK firms, strengthening reciprocal trade between both countries. “Access to financing is vital for private sector growth and expansion, and I encourage local businesses to actively explore how this facility can help them expand operations and create new ventures through partnerships and access to British companies, products, and services,” he said in his personal capacity.

Health minister Dr Frank Anthony, presidential advisor on Science & Healthcare Modernisation Dr Mahendra Carpen, Finance minister Dr Ashni Singh and Minister of the Public Service and Government Efficiency Zulfikar Ally were among the Guyana government delegation.