Up to £2 billion in UK-backed financing is available to eligible Bangladeshi buyers for development projects involving British goods and services, according to UK Export Finance.

Mark Birrell, trade counsellor for South Asia at UK Export Finance, outlined the financing opportunity during a meeting with ICC Bangladesh President Mahbubur Rahman and members of the organisation’s executive board in Dhaka.

The financing could potentially support projects across a broad range of sectors, including transport, agriculture, healthcare, airports, manufacturing, renewable energy and infrastructure.

A UKEF delegation led by Birrell is visiting Bangladesh from September 2 to 4 as part of efforts to expand economic cooperation and identify potential projects.

During the visit, the delegation has been holding discussions with government representatives, banks and private-sector leaders.

The meetings are intended to identify projects that could qualify for UK-backed financing while creating opportunities for British companies to supply goods, services and expertise.

At the meeting with ICC Bangladesh, the delegation briefed business leaders on the financing facilities that may be available for eligible projects involving UK goods and services.

Birrell highlighted the long-standing economic relationship between Bangladesh and the United Kingdom.

He said the visit provides an opportunity to hear directly from government and business leaders while exploring areas where British companies, expertise and financing could contribute to innovation, economic growth and development.

ICC Bangladesh President Mahbubur Rahman also highlighted the established economic relationship between the two countries.

He said Bangladesh’s significant infrastructure requirements and expanding private sector create opportunities for greater UK investment, technology cooperation and long-term financing.

Several sectors were identified as particularly promising for future cooperation.

These include renewable energy, transport and logistics, airports and aviation, healthcare, agriculture and agro-processing, and climate-resilient infrastructure.

Rahman expressed interest in working with UK Export Finance, the UK Department for Business and Trade and British businesses to develop a pipeline of viable projects.

Such a project pipeline could help connect Bangladesh’s development and infrastructure requirements with financing and expertise available from the United Kingdom.

The discussions also reflect Bangladesh’s continuing need for substantial long-term investment in infrastructure and productive sectors.

Access to export-credit-backed financing could provide another funding option for qualifying projects, particularly where British companies and services form part of project implementation.

However, the availability of up to £2 billion does not mean individual projects will automatically receive financing.

Projects and buyers would need to meet the applicable eligibility and financing requirements of UK Export Finance.

Sandeep Kudtarkar, UKEF’s country head for Bangladesh, India and Nepal, and Rohini Aggarwal, head of trade policy for South Asia, were among those attending the discussions.

Representatives from several Bangladeshi business and industry organisations, including BCI, CCCI, BTMA and BAPI, also attended the meeting.

The visit is expected to help both sides identify potential areas where UK-backed finance, British expertise and Bangladesh’s investment requirements can be brought together in commercially viable development projects.