IN order to enhance commercial relations, the Export Import Bank of the United States is developing a financial plan to assist Guyana’s domestic infrastructure, as communicated by Dan Erikson, Special Assistant to the President and Senior Director for Western Hemisphere Affairs, during a meeting with Guyanese officials on Tuesday.

Erikson revealed this information during a significant strategic dialogue involving Guyana’s Foreign Secretary, Robert Persaud, and numerous other government officials.
“We also seek to deepen the commercial relationship between the United States and Guyana. These steps include the work underway at the Export-Import Bank of the United States to develop a financing package for your domestic infrastructure and we all know that in order to achieve sustained economic growth, companies must have a conducive business enabling environment in which to operate,” he said.

In highlighting the shared values and interests between Guyana and the United States, Erikson noted that the US will continue to support the South American state as part of efforts to strengthen their bilateral relationship.
“The United States will continue to work with you to advance transparent procurement practices. These measures will drive high quality investment to Guyana, which will be so important for your country’s development.”
The US, he said, has taken note of Guyana’s efforts to develop an “equitable and thoughtful” sustainable development strategy.
“We know that your government is working to ensure an equitable and thoughtful path towards inclusive and sustainable development and safeguarding Guyana’s sovereign wealth through your natural resources fund. The United States stands ready to support you in that effort.”

He reiterated the US’s support for Guyana’s territorial integrity, efforts to grow civilian defence institutions, and inclusive and sustainable development.
In addition, he praised Guyana’s efforts and committed to assisting with modernisation and training.
Meanwhile, Guyana’s Foreign Secretary noted that there has been ‘heightened interaction’ between Guyana and the United States at all levels, referencing the visits of Secretaries of State, members of Congress, and other senior US government functionaries as recent as last week here in Guyana.

“While this dialogue provides an opportunity to take stock of ongoing initiatives in these areas, we are eager to explore ways in which we can better consolidate our collaboration, coordination and cooperation in the future,” the foreign secretary said.
Persaud posited that continued deliberations could pave the way for innovative solutions, and strengthen ties between our two governments.
During this first-ever Guyana-United States Strategic Dialogue, the two sides discussed ideas for advancing the bilateral economic agenda, underscored the need for good governance and institutional strengthening, and pledged continued defence and security cooperation.

Back in 2022, the Government of Guyana, in collaboration with the US EXIM Bank, held a roundtable discussion at the Arthur Chung Conference Centre to address access to financing and US EXIM Bank products for the private sector.
In July of that year, Guyana signed a US$2 billion agreement with the US EXIM Bank.
The agreement represented an important milestone in US-Guyana relations since it laid the foundation for Guyana to access EXIM financing and facilities for the first time, and provided for interventions on a scale that is likely to have a lasting developmental impact.

Under the agreement, the parties agreed to explore options for utilising EXIM’s standard instruments, which include direct loans and medium and long-term guarantees, to finance US exports to Guyana for government projects, totalling US$2 billion.
The MoU also identified a number of indicative sectors in which projects may be identified. These include, but are not limited to: infrastructure (including roads and bridges); energy (including renewable energy and emission reduction); telecommunications (including wireless technologies); water treatment and sanitation (including technologies and infrastructure); and agriculture.

Recently, US Ambassador to Guyana, Nicole Theriot, highlighted the robust bilateral relationship and thriving commercial ties between Guyana and the United States.
Ambassador Theriot had emphasised the strengthened relationship between the two nations, noting that over 100 US companies are currently operating in Guyana.
“Our commercial ties are deeper than ever. Just a few years ago, we created a few hundred million US dollars’ worth of goods, but last year we surpassed 4.6 billion USD. We now have over 100 US companies in Guyana, and that number is growing every single day,” she stated during a recent engagement.