Jamaica signs deal with UK Export Finance

 

Jamaica has signed an agreement with UK Export Finance, in a bid to boost the country's export financing.

 

UK Export Finance is the United Kingdom's export credit agency.

 

British High Commissioner to Jamaica Judith Slater says Jamaican firms are set to benefit from millions of dollars, to help support their plans to send goods and services overseas. 

 

"So you have an appetite of £2 billion for Jamaica. In other words £2 billion for underwriting is available and we're working on these four big projects that were named as part of that agreement, but that...is not an exhaustive list. We are keen to work on other big projects," she explained. 

 

She said trade and investment between Jamaica and the United Kingdom have been increasing. 

 

"We've increased our bilateral trade with Jamaica by 50% in the last couple of years. Obviously some of that is recovering from COVID but you can go back before COVID and the numbers are still on the rise which is really important. Most of that is services but also it's not all services and we're really keen to grow British exports and we're really keen to help with this agriculture sector and it's moving up the value chain," Ms. Slater outlined.

 

She said Jamaica will receive £19 million in development aid over a four-year period.