Through three agreements…
‘The transformation of a modern Guyana is well underway’ – Finance Minister Dr. Ashni Singh
GUYANA signed three agreements, two for loans and one for a grant, with the Inter-American Development Bank (IDB) yesterday.
In all, this country would access a total of US$32.8M for infrastructure development and capacity building and Finance Minister, Dr. Ashni Singh, who was a signatory to them, in the Finance Ministry Boardroom, Main Street, Georgetown, declared that the transformation of a modern Guyana is well under way. One agreement is to borrow US$22M for the extension of the East Bank Demerara four-lane highway, from Providence to Diamond. Another, for US$10M, will be dedicated to the Georgetown Sanitation Programme that would look, in particular, at the city’s sewage system.

Through the third, Guyana will be granted US$825,000 to address the enhancement of its public financial management system and the continued computerisation of operations.

Singh said Guyana has come a long way in the last two decades and the current administration remains committed to continue modernising the local infrastructure.

“In the last 20 years, one would see the indubitable evidence of remarkable transformation,” he stated.

Singh added that no effort will be spared to pursue mutually beneficial partnerships, which will aid Guyana’s move forward.

According to him, bilateral partnerships and collaborations with other donors have seen significant changes in the country’s landscape.

He cited, as one of many moves forward, the Takutu Bridge, as a vision realised through partnership with the government and people of Brazil.

The Minister also mentioned that stakeholders are in talks to bridge the Corentyne River leading to Suriname.

“The possibilities of investments in infrastructure are limitless,” he said.
Singh emphasised that the current administration will maintain its quest for strategic partners in the thrust to increase modernisation.

Expressing his appreciation of longstanding partner, the IDB, he described the lending agency as reliable and responsive to the Guyanese people.

“Going forward, our government will spare no effort to mobilise development resources and opportunities,” Singh assured.

Manager of the IDB Caribbean Country Department, Mr. Gerard Johnson pledged the IDB’s continued support to Guyana wherever it can.

ONLY COUNTRY

He pointed out that Guyana is the only country in the Caribbean that accesses the IDB’s subsidised window.

The IDB has an open window which has more money but the Fund for Special Operations (FSO), because it subsidises credit, is limited and it is from there that Guyana borrows.

Johnson said that, in pursuing development, there must be a balance in advancing what he called “invisible infrastructure”, such as the enhancement of Guyana’s public financial management system and physical infrastructure.

He said the commitment of the current Guyana government is recognised and the changes, to date, are palpable in the different sectors.

Minister of Transport and Hydraulics, Mr. Robeson Benn concurred that, with reliable partners like the IDB, Guyana is well positioned for sustained development.

He said extending the four-lane highway is a critical project, expressly so in light of the fact that there is an increasing number of vehicles on the roadway and more housing development areas along the route.

Benn said that, in undertaking the eight kilometres extension, approximately 16 bridges and culverts will be widened and sidewalks and pedestrian crossings, among other things, will be addressed, all aimed at encouraging a better road usage culture.

He gave the assurance to deliver quality work in a timely manner, in the interests of the Guyanese people.

Housing and Water Minister, Mr. Irfaan Ali explained that a number of areas will be targeted under the Georgetown Sanitation Programme, including addressing the issue of energy efficiency, development of an asset management strategy and continued knowledge transfer by adopting from accepted best practices.

He said the challenges to development are known and interventions advance moves to finding solutions.