The United Kingdom's export credit agency UK Export Finance (UKEF) is doubling support for UK exports of goods, services and intangibles to US$5 billion, thus helping projects in all sectors.
UKEF's decision to scale up its financing capacity will allow Peruvian —public and private— buyers of UK products and services to access Sol-denominated financing, that is, to "buy British with local currency."
In this sense, British Ambassador to Peru Anwar Choudhury said the UK Government "has once again expressed our commitment to doing business with Peru by doubling UKEF funds available to both government ministries and the private sphere."
"We are making it easier for Peruvian and British companies to work together in a range of sectors. This is fantastic news," the diplomat
pointed out.
UKEF
had already announced at least US$200 million in funds to develop projects carried out in cooperation with the Development Bank of Latin America (CAF).
In a release issued last March, the British Embassy in Lima informed UKEF and CAF would join efforts to identify projects for collaboration in Latin America, with a particular focus on the infrastructure, energy and water sanitation sectors, where there is an opportunity to source expertise, goods and services from the UK.
As the main funding body for large-scale infrastructure projects in South America, CAF spends around $12 billion per year on projects.
In 2015, CAF-approved funding for Peru reached approximately US$2.4 billion.
(END) MMG/DHT/MVB