Caption: Finance Minister Colm Imbert and UK’s High Commissioner Harriet Cross
PORT OF SPAIN – THE United Kingdom (UK) and Trinidad and Tobago have signed a Memorandum of Understanding (MOU) aimed at enhancing cooperation and supporting national development objectives.
The agreement was formalised last Wednesday between Finance Minister Colm Imbert and UK’s High Commissioner Harriet Cross.
The MOU establishes a framework for collaboration between the UK Export Guarantees Department, operating as UK Export Finance (UKEF), and T&T’s Ministry of Finance. This partnership is set to facilitate financing for projects involving UK exports, fostering closer ties between British companies and local stakeholders.
UKEF, a century-old and award-winning export credit agency, has a strong track record of supporting UK businesses in international markets. In the last financial year, UKEF provided £8.8 billion in financial support worldwide, with a capacity to extend up to £5 billion in local project financing.
High Commissioner Harriet Cross said, “Together, we are laying the foundation for strong commercial ties and exploring avenues for financial support on high-impact projects. We are excited to see these ventures take shape in coming months, driving growth and opportunity.”
Minister of Finance Colm Imbert also expressed his gratitude.
He said, “I’m very pleased about this initiative of the UK Government and the UK High Commission in Trinidad and Tobago. It creates access to a pipeline of funding for goods and services from the UK and complements our existing export credit arrangements with other countries such as Australia, Austria, the USA and China.
“This UKEF/ MoU offers a prime financing avenue to support Trinidad and Tobago with projects in National Security, Healthcare Infrastructure, Airport Development, Bridges, and Road Rehabilitation, among other areas, and is deeply appreciated.”
