ANNOUNCEMENT 03 Jun 2020
On 3 June 2020, the UK Export Finance agency (UKEF) announced providing financing to support the Kampala Industrial and Business Park project in Uganda to support UK exports.
NUMBER OF INTERVENTIONS
UKEF, press release, “Category A project supported: Kampala Industrial and Business Park, Uganda”. Available at: https://www.gov.uk/government/publications/category-a-project-supported-kampala-industrial-and-business-park-uganda/category-a-project-supported-kampala-industrial-and-business-park-uganda
UKEF, Guidance, “UKEF's approach to foreign content”. Available at: https://www.gov.uk/government/publications/ukefs-approach-to-foreign-content/ukefs-approach-to-foreign-content
On 3 June 2020, the UK Export Finance agency (UKEF) announced providing financing to support the Kampala Industrial and Business Park project in Uganda. The financial support has a total value of approximately 220 million euros (USD 250 million) and aims to support a UK exporter company’s (Lagan-Dott Namanve Ltd) construction services in connection with the project.
The project is developed by the Uganda Investment Authority and Lagan-Dott Namanve Ltd. will provide construction services for the Project in a design and build contract. The main elements of the project include road infrastructure, water supply infrastructure, solid waste, and wastewater infrastructure, power supply and communications, and ancillary infrastructure.
To be eligible for support from UKEF, transactions must satisfy the UKEF’s foreign content policy. According to the UKEF’s guidance on foreign content, the export contract value must have a minimum UK content of 20% (maximum 80% foreign content). Although 20% is the minimum level of UK content to be eligible for support, UKEF seeks a higher level of UK economic activity in transactions.