Government must find a way to fill Sithe Global gap

THE government must find a way to fill the gap left by Sithe Global and possible loss from the IDB to continue the AFHI project.  There must be a way to find the US$350M plus funds for this project. Bonds or shares should bring in the required amount from local and overseas investors. China EXIM Bank may be encouraged to increase their loan with proper assurances that their loan will receive priority from income generated. This project should have given local and overseas Guyanese a vehicle and an opportunity to invest at a profit in the nation’s future.  

This setback could be made into a less costly project and provide greater benefits for Guyana if handled with patience, transparency and creativity. This project cannot be separated from the reforming of the GPL to accommodate the requirements necessary to use power efficiently from this project. Better planning is essential to have a successful power structure. Better outreach to Middle East and Indian investors looking for investment opportunities should be a priority for getting sources for investments. This is where a Guyana Investment Fund would have been useful, if not critical.
 

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