CITIBANK will provide the financing needed by OEC USA Inc. for the construction of the new Lethem Airport in Region Nine.
This was revealed by United States Ambassador to Guyana, Nicole Theriot, on Monday evening, at the official launch of the financial institution’s representative office in Guyana.
“I am particularly pleased to see so many members of the Government, business community and international companies here tonight. Their presence reflects a great interest in Guyana’s economic future and the importance of working together to ensure that growth translates into sustainable and inclusive prosperity. Today marks a milestone not just for Citibank, but for Guyana’s expanding role in global finance,” Theriot said during brief remarks.
She noted that Citibank is now the first international bank to establish a representative office in Guyana, describing the development as a landmark achievement that speaks to the confidence of global financial institutions in Guyana’s economic trajectory.
She pointed to amendments made to Guyana’s Financial Institutions Act and the Government’s efforts to facilitate the modernisation of the country’s banking sector.
“Your leadership in creating the legal framework for Citi’s presence is a testament to your commitment to building the institutions that will support Guyana’s continued growth,” she said, adding:
“Citibank’s decision to establish a representative office reflects confidence in Guyana and the opportunities its rapidly growing economy offers. As Guyana’s economy expands and becomes increasingly integrated into global markets, strong financial institutions will be essential.”
The institution, she added, can help connect Guyanese businesses with international capital, support investment, facilitate trade, and bring global expertise and financial services to a growing private sector.
She stressed that this transformation presents significant opportunities for US and international companies.
“But capitalising on them will require strong partnerships, strong and sound institutions, and continued engagement between the public and private sectors. Citi is already stepping up to do exactly that.”
She added: “The United States is committed to supporting Guyana’s economic development and to deepening our commercial relationship. We welcome investments that create opportunity, strengthen Guyana’s financial institutions, and build lasting partnerships between our countries.”
Back in 2024, President Dr Mohamed Irfaan Ali announced that amendments to Guyana’s Financial Institutions Act would bring the country’s banking sector into greater alignment with international standards.
He announced at the time that the country would allow foreign financial institutions to establish representative offices here.
Dr Ali explained that while representative offices would not be permitted to conduct banking or financial business, they could offer their services as a stimulant for direct investment by connecting capital with investment opportunities.