GUYANA and China continue to strengthen their relationship and to this end yesterday signed an economic and technical cooperation grant agreement to the tune of approximately $1.2B.

Minister of Finance, Dr. Ashni Singh (at right) and Chinese Ambassador to Guyana, Zhang Jungao, sign the economic and technical cooperation agreement that will see Guyana benefitting from a $1.2B grant (GINA Photo, Curtis Setal)

The signing ceremony by Minister of Dr. Ashni Singh and Chinese Ambassador to Guyana, Mr. Zhang Jungao was held in the boardroom of the Finance Ministry, Main Street, Georgetown.

Addressing the media before the signing by the two parties, Minister Singh said the grant agreement is in the amount of $40M RMB (approximately US$6M or G$1.2B).

“We have no doubt in the Government of Guyana that this grant agreement and the projects that we will execute under this grant agreement will in a very significant way contribute to the advancement of our development agenda,” he stated.

He said having concluded the grant agreement, the Government of China and Guyana will then proceed to programme the resources and identify priority projects.

He took the opportunity to thank the Government and people of China for not only the very important grant agreement, but also for “the very extensive cooperation programme shared and for the kindness and generosity of the people of China”.

Minister Singh agreed that the two countries have over the years enjoyed “very strong, close fraternal relations”.

He outlined some of the significant examples of the relationship shared, referring to the co-generation plant at Skeldon and the Guyana Power and Light (GPL) transmission and distribution project which is currently in the process of concluding.

Other areas in which the China and Guyana cooperation agenda has extended, he stated, include the construction of Guyana International Conference Centre in Liliendaal, East Coast Demerara, Chinese companies investing and expanding in Guyana, the roll-on/roll-off ferries, and the bamboo craft project which was a very important project in supporting the development of micro enterprises.

The Finance Minister also mentioned the support in agriculture, training and building human capacity, and the medical corps.

He also touched on China’s work in the region, including its membership in the Caribbean Development Bank which has contributed in a significant way to the bank’s work in the Caribbean.

Also, Minister Singh noted that Guyana very strongly supported China’s membership in the Inter-American Development Bank (IDB) about a year ago.

“We were delighted at the interest shown by China in becoming a member of the IDB. The IDB is a very important development partner in Latin America, and in the Caribbean and Guyana in particular,” he said.

“Each and every element of this cooperation agenda has resulted in favourable impact and favourable consequences for the nation and the people of Guyana,” he assured.

The Chinese Ambassador said, “I am very pleased to be here to sign the agreement on economic and technical cooperation between the Government of Guyana and Government of China”.

He noted that China and Guyana have enjoyed very friendly relations for over 30 years.

The Chinese Ambassador said that during this time, the two countries have shared mutual respect and support in different areas, including the economic and technical fields, and he outlined some examples.