Britain says doubling export financing for trade with Peru

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Britain says doubling export financing for trade with Peru

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LIMA (Reuters) – Britain’s export credit arm is doubling its financing for supporting trade with Peru to at least $5 billion (3.78 billion pounds), the British embassy in Lima said Monday. Peru’s public and private sectors will be able to tap the funds to import goods and services from Britain in the local sol currency, one of 40 currencies that UK Export Finance (UKEF) supports, the embassy said. “We’re making it easier for British and Peruvian companies to do business together in a wide range of sectors,” British Ambassador to Peru Anwar Choudhury said in a statement. The announcement came as some British exporters are looking for trade opportunities outside of the European Union after the United Kingdom voted to leave the bloc. UKEF is working with the Andean Development Corporation to provide financing for infrastructure, energy and water treatment projects in Latin America that use British goods and services, the embassy said. Peruvian President Pedro Pablo Kuczynski’s government has said it expects some $15 billion in investments in infrastructure projects will be needed through 2021 to fulfil its plan to greatly expand access to running water.

(Reporting By Mitra Taj; Editing by Jonathan Oatis)
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