AS Government continues to bolster the capabilities of the Guyana Defence Force (GDF), Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni K. Singh, on behalf of the Government of Guyana, on Friday, signed a Line of Credit (LOC) Agreement of US$23.27 million, with the Export-Import Bank of India (EXIM Bank), for the procurement of two aircraft.

Signing on behalf of the Indian EXIM Bank was its Deputy General Manager – Line of Credit Group, Mr. Sanjay Lamba.

According to a release from the Ministry of Finance, this agreement represents the latest instalment of the Government’s ongoing effort to ramp up the capabilities of the GDF, and has its genesis in President Dr. Irfaan Ali’s visit to India’s state-owned aerospace and defence company – Hindustan Aeronautics Limited, in January 2023.

Dr. Singh, while delivering remarks, placed on record Government’s strong appreciation of India’s unwavering support to Guyana, and alluded to the two countries’ long-standing relationship grounded in history, people, and culture, and, in more recent times, economic and commercial cooperation, the release added.

In welcoming Mr. Lamba to Guyana, Dr. Singh also recognised the EXIM Bank’s instrumental role in facilitating the presence of Indian companies in Guyana, thereby allowing for the expansion of productive capacity in various sectors of the country.

It was on this note that Dr. Singh said, “we want to see more Indian companies doing business in Guyana, we are open to companies from around the world, including of course India, and India is amongst the economies that are at the cutting edge of technology, and we want to receive the benefit of that cutting edge technology,” according to the release.

In reiterating Government’s commitment to bolstering the country’s security sector, he explained that the Government was investing heavily in strengthening the capabilities of the GDF, in particular, in some of its specialised wings, such as the Air Corps and the Coast Guard. He further said that the purchase of the two aircraft was part of the biggest ever investment in the capitalisation of the force thus far.

Dr. Singh also used the opportunity to thank Mr. Lamba and team for the Bank’s tremendous efforts in concluding the LOC, and acknowledged the efforts of everyone else who contributed, including High Commissioner, Dr. Telang and team from the Indian High Commission, Chief of Staff of the GDF, Brigadier Omar Khan and team, and Chief Planning Officer, Dr. Tarachand Balgobin, and other technical staff of the Ministry of Finance.

High Commissioner of India to Guyana, Dr. Amit Telang, during remarks, said that India attaches great importance to the relationship it shares with Guyana, and the signing of the LOC is just another means of cementing its partnership with Guyana. He further placed on record that the Agreement was the first ever defence LOC signed with the Caribbean region, the release said.
Meanwhile, Mr. Lamba, who was visiting for the first time, during his remarks, said that working with the Government of Guyana had been very satisfactory, and he looked forward to a continued relationship between Guyana and the Bank.

Chief of Staff of the GDF, Brigadier Omar Khan, while speaking on behalf of the defence sector, recognised the role that the Government of India had played in defence training.
According to the release, he noted that the signing was in keeping with President Ali’s vision of a strengthened security sector that will help to maintain the peace and prosperity for ‘One Guyana.’

The ministry informed that the Government of Guyana, to date, has received 11 LOCs from India’s EXIM Bank over the years.
Guyana and India established diplomatic relations on May 26, 1966, and continue to have a robust developmental cooperation programme aimed towards the mutual benefit of both countries, the release added.