Minister of Finance, Winston Jordan is slated to sign a US$50M agreement with Eximbank of India for the East Coast/East Bank Road Linkage Project.

The signing is scheduled to take place on Wednesday at the Ministry of Finance, after which the Minister will report on various policy issues including Forensic Audits, IFMAS implementation, his recent travels and IMF missions to Guyana.

India last year had committed to funding the project with a US$50M line of credit. Prime Minister, Moses Nagamootoo had recently noted that relations between Guyana and India have grown from strength to strength over the years, noting that “our bonds rest on a solid foundation of true friendship and mutual respect.”

He said India has proved to be a dependable friend and partner.

“This partnership has in past years reaped great benefits for Guyana. Today other beneficial projects are in the pipeline. One such project is the proposed road linkage between the East Coast of Demerara and the East Bank of Demerara. This vital project will ease traffic congestion and facilitate easier movement of people and goods between the East Coast and East Bank corridors,” Nagamootoo had said.