– for social sector developmental projects
GUYANA and China yesterday signed an agreement for a grant of about US$8 million for still-to-be-determined projects in the social sectors, which has seen a sustained and rapid developmental and infrastructural transformation in recent years. The signing of the agreement in the amount of 50 million RMB (Chinese Yuan or Renminbi) took place at the Finance Ministry between Minister of Finance Dr. Ashni Singh and Chinese Ambassador to Guyana Yu Wenzhe, in the presence of other officials of the ministry and the Chinese Embassy in Georgetown.

Speaking before affixing their signatures, both officials spoke of the good relations that the two countries share and of their wish for this to be continued and deepened.

The Ambassador said: “Today was yet another happy occasion in the relation between China and Guyana.”

He noted that since Guyana and China established diplomatic and economic relations in 1972, the two countries have helped support each other on many issues bilaterally, regionally and in the international arena.

Ambassador Wenzhe said that especially in the last few years, the technical and economic cooperation between Guyana and China has been expanded to a wider area and has been deepened in many fields.

“I am very happy today to sign a new agreement of economic and technical cooperation between China and Guyana and this is another manifestation of the good relations and close cooperation between our two countries and peoples,” he said.

“Personally, I am full of confidence that the friendship and the close relations will bring more and more concrete benefits and tangible results for the people of the two countries,” the Chinese envoy said.

According to the Ambassador, there are many cooperation projects between China and Guyana that have already been accomplished and others are in the pipeline. “This will be a new set of projects that will be defined later on,” he said.

Minister Singh, in his remarks, said that after achieving Independence, Guyana was the first CARICOM country to establish diplomatic and economic relations with China. Minister Singh also made specific reference to China’s rapid development as an example to developing countries and he highlighted the Shangai Exposition as an event in which the CARICOM Region participated with His Excellency President Bharrat Jagdeo heading the visiting delegation to China.

The Minister lauded the generosity of China to Guyana and the Caribbean region which, he said, could be substantiated by their meaningful contributions through the Caribbean Development Bank and the Inter-American Development Bank.

He affirmed that the Government of Guyana intends to continue the mobilization of resources from Multilateral Financial Institutions and like-minded countries which place people at the centre of the development arena as indicated by Ambassador Wenzhe.

Minister Singh also highlighted a number of projects which were realized as a result of the Government of China’s contribution to our development efforts and these included the dispatch of Chinese experts in the areas of health – the medical brigade; agriculture, sport, mining, and other types of training such as the provision of experts in bamboo craft. 

Larger interventions include the Guyana Power and Light Transmission and Distribution Project which will assist in strengthening the current network in Georgetown and other highly populated regions of Guyana; the Skeldon Co-generation Plant; the Ferry Vessels Project; and the E- Government project which is currently in the pipeline.

Minister Singh said that China and Guyana’s relationship started long before the establishing of diplomatic and economic relations almost four decades ago.

“China’s support to Guyana has gone beyond the confines of the projects we implement together,” he said. Dr. Singh spoke of the strength of the Chinese economy and said that theirs is an example to be emulated and replicated. He also reaffirmed Guyana’s position of supporting the ‘One China’ policy – the recognition that the reference to ‘China’ speaks of the People’s Republic of China and not the Republic of China, also called Taiwan.

“I thank China for the development support and for the close relations we enjoy. The agreement will be of tremendous value to us and will see the implementation of a number of projects that can have developmental impact,” Dr Singh said.

“We, as a government, will spare no effort to continue to mobilise support from like-minded partners. We will work with friendly countries and multilateral organisations to support the development effort in Guyana,” he said.

According to the Finance Minister, China contributes to the region’s development through its being a non-borrowing member of the CDB and IDB.