Minister of Finance Dr. Ashni Singh and the President of the Inter-American Development Bank (IDB) Mr. Luis Alberto Moreno Sunday signed a US$25 million Road Improvement and Rehabilitation Loan Agreement in Cancun, Mexico, where they are both participating in the 2010 Annual IDB Board of Governors meeting. The US$25 million being provided by the IDB will support implementation by Government of a project aimed at enhancing urban and suburban mobility and safety for Guyanese, along with improving access to agricultural areas by upgrading specific elements of transport infrastructure.
After the signing, Minister Singh thanked President Moreno for the outstanding role that the Bank has played in supporting Government’s implementation of Guyana’s development programme. Minister Singh also highlighted a number of other areas in which Government has implemented developmental projects with IDB assistance. These included infrastructure projects, projects aimed at improving the institutional environment, and projects aimed at strengthening public management capabilities; and they have each contributed significantly in one way or another to strengthening the Guyanese economy and improving the lives of the Guyanese people, said Minister Singh.

The Minister also indicated that he was pleased that Guyana was able to receive the honour of a visit by President Moreno two years ago, when the President was able to see at first hand the tremendous progress being made in Guyana, and the strong positive developmental impact that IDB projects are having in the country.
Under this US$25 million programme, the East and West Canje roads will be improved and rehabilitated with the replacement of 24 bridges and six culverts, and the rehabilitation of three box culverts, thereby improving accessibility to an important agricultural zone.
In addition, there will be construction of shoulders in interurban segments, and sidewalks and other safety related works in urban areas, as well as improvements of urban crossings, and roadside amenities, including bus stops and parking areas at key locations to enhance safety and socio-economic benefits. The Sheriff Street – Mandela roadway in Georgetown and the Cheddi Jagan International Airport (CJIA) access road will also be improved and rehabilitated, while selected localised interventions will be implemented along the carriageway between Providence Cricket Stadium and Diamond on the East Bank of Demerara, with the ultimate aim of widening this road further to a four-lane road.
This agreement falls in line with one of the pillars of the Bank’s country strategy with Guyana, namely the Strategic Infrastructure Investment pillar – whereby GOG and the Bank continue to focus on improving the strategic infrastructure development agenda in support of economic diversification, and also add to the extensive road rehabilitation and maintenance programme undertaken by the Government of Guyana.
While in Cancun, Minister Singh was also engaged in a series of other meetings with senior management and officials of the Bank, updating them on recent developments in Guyana and mobilising additional support and involvement by the Bank in developmental projects in Guyana.(GINA)