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The agreement was signed by Finance Minister Dr. Ashni Singh on Guyana’s behalf; and by Chinese Ambassador to Guyana, Zhang Limin on China’s behalf, in the boardroom of the Ministry of Finance on Main Street, Georgetown.
Minister Singh disclosed that the grant financing would be used on projects agreed on during the course of the weeks and months ahead. He said, though, that the conversation will begin immediately.
He pointed out that Chinese grants have been used to fund several projects, such as the acquisition of marine vessels, the construction of the Guyana International Conference Centre, and also to fund training and capacity building in a wide variety of areas.
Dr Singh noted that while the types of projects to be funded by the grant have not been decided upon as yet, they will essentially be socially and economically developmental projects similar in character to those of the past.
“Looking back at the successful projects that we have implemented together, I have no doubt that these grant resources will contribute in a significant way to the achievement of the objectives that we share — the objectives of economic and social development, and the objectives of improving the lives of our people,” Singh stated.
The minister related that while the relationship between China and Guyana goes way beyond the establishment of formal diplomatic relations, Guyana was the first Caribbean country to have established diplomatic relations with China. Over the years, this relationship has grown from strength to strength, he said.
Alluding to several projects which were implemented with Chinese support, and which have contributed in a significant way to advancing the economic and social development of Guyana, Singh said that these projects stand as testimony to the relationship between the two countries.
Speaking via a translator, Chinese Ambassador Mr. Zhang Limin echoed sentiments similar to those of Minister Singh. He said the projects are testimony to the fact that the mutually beneficial friendship between the two countries is further deepening.
Noting that China is the largest developing country in the world, he said that even in the past few years of China’s rapid economic growth, it has never forgotten its smaller developing friends.
He reminded that on June 2 this year, Chinese President Xi Jinping visited Trinidad and met with Heads of State of all the Caribbean countries. Limin advised that during that visit, Jinping had proposed that China would like to provide some US $3B in economic assistance to Caribbean countries.
In addition, the ambassador related that during that visit, the Chinese President had also met with President Donald Ramotar, and after a very successful meeting, had announced that the Chinese Government would like to provide the Guyanese Government with US $8.16M in grant aid as demonstration of the Chinese Government’s support for the developmental endeavours of Guyana.
He added that the economic and trade arrangements between the two countries have developed very rapidly, noting that, for instance, bilateral trade between the countries had exceeded US$200M last year.
Limin said this is largely attributed to the large projects undertaken by the Chinese companies in Guyana.
He also pointed out that the Chinese Government has, over the years, provided Guyana with economic assistance and concessional loans to promote the economic and social development of the country.
