UK steps up hunt for Mena projects with £50bn budget

UK steps up hunt for Mena projects with £50bn budget

The UK’s export credit agency is stepping up its search for “transformational” projects to finance across the Middle East and North Africa and has a potential war chest of about £50 billion ($63 billion). Since 2018, UK Export Finance has completed £11 billion worth of business and delivered thousands of jobs for UK businesses related […]

UK commits $63bn to Mena

£11bn invested since 2018

Financing supports UK jobs

The UK’s export credit agency is stepping up its search for “transformational” projects to finance across the Middle East and North Africa and has a potential war chest of about £50 billion ($63 billion).

Since 2018, UK Export Finance has completed £11 billion worth of business and delivered thousands of jobs for UK businesses related to projects in the region, which it describes as an “important growth area”.

Joanna Mobed, co-head of global origination at UKEF, told AGBI she is committed to being involved in Mena’s most important projects, adding that there is a “great deal of headroom” for financing deals.

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That includes a capacity of £15 billion in the UAE, Dubai and Saudi Arabia alone, plus billions