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Local Currency Financing: eligible currencies
UKEF can guarantee a buyer credit loan to an overseas borrower in local currency, financing the purchase of capital goods, services and/or intangibles from a UK exporter.
Details
Loans can be made in over 60 currencies . For the overseas borrower (and buyer) it reduces foreign currency risk and avoids a variable debt service cost.
A buyer credit in local currency follows the same format as a conventional buyer credit in a standard currency such as sterling, euros or US dollars except that it is funded from a bank in the buyer’s country.
Local Currency Financing is particularly suited to projects that do not usually generate foreign currency revenue, such as water/gas/electricity utilities, local transport and local municipalities.