The government of Great Britain will contribute US $ 1239 million in credits to increase trade and investments of that country in Argentina. This was agreed at a meeting held today by the English Trade Minister, Greg Hands, with Finance Minister Luis Caputo.
The funds will be channeled through UK Export Finance, the government’s export credit agency, to offer up to £ 1 billion to help UK companies secure their business in Argentina.
UK Export Finance is the UK export credit agency in charge of approving credit, guarantees and export insurance with public resources in the UK. In this sense, it operates without net costs to the taxpayer, with attractive financing conditions, helping exporters to make a more competitive offer.
“In this way, any UK company wishing to invest in Argentina will be able to access this flexible credit line that is among the four largest for Latin America (along with Mexico, Peru and Chile) and has very attractive requirements for The stakeholders, “said Finance in a statement.
Caputo stressed the importance of the announcement: “This agreement with the United Kingdom strengthens our position as a destination for productive investments, which bring us more opportunities for development,” adding: “In addition, this type of financial agreement favors foreign trade Argentina and that is equivalent to creating more and better jobs “. Meanwhile, Hands said through an official statement: “Argentina has enormous potential to be a modern and dynamic economy, and the United Kingdom has pledged to support it in this sense through a constructive relationship in areas such as energy, agriculture And infrastructure. ”
Hands also met with Production Minister Francisco Cabrera, who noted that “£ 1bn support will help British companies secure contracts by providing attractive financing conditions, project delivery loans and insurance Against the risks of operating in other countries. ”
On the other hand, an agreement was signed which “establishes an annual meeting of Ministers to evaluate the progress of the work plan of the Trade Dialogue; it also provides a framework between the United Kingdom Secretariat of State for International Trade and the Ministry of Production of Argentina to maintain exchanges with the private sectors of both countries and support public-private initiatives to strengthen bilateral trade and investment. “