BAKU, Azerbaijan, April 12. UK Export Finance (UKEF) is able to provide guarantees for financing in Georgia’s national currency (lari), the UKEF representative told Trend.
As the source explained, this means that Georgia’s businesses can buy in pounds and then pay in their local currency.
According to UKEF, the full range of UKEF facilities is available to support UK exports to, and investments in, Georgia. Currently, UKEF has 3-4 billion pounds ($3.9 - 5.2 billion) available to support new business and welcomes new applications for support.
“The UK Government believes no viable trade with the UK should fail for lack of finance or insurance. That’s why, through UK Export Finance (UKEF), it has up to 4 billion pounds ($5.2 billion) available to help Georgian buyers access the finance they need to trade with the UK,” the source said.
UKEF’s financing can help buyers in both the public and commercial sectors in Georgia make sure capital goods or services from the UK come with competitive terms, providing overseas project sponsors with attractive long-term financing that makes sourcing from the UK more competitive.
---
Follow the author on Twitter: @mariiiakhm
