Thursday, December 9, 2010

Guyana getting US$32.8M more development financing from IDB

GUYANA signed three agreements, two for loans and one for a grant, with the Inter-American Development Bank (IDB) yesterday.
In all, this country would access a total of US$32.8M for infrastructure development and capacity building and Finance Minister, Dr. Ashni Singh, who was a signatory to them, in the Finance Ministry Boardroom, Main Street, Georgetown, declared that the transformation of a modern Guyana is well under way. One agreement is to borrow US$22M for the extension of the East Bank Demerara four-lane highway, from Providence to Diamond. Another, for US$10M, will be dedicated to the Georgetown Sanitation Programme that would look, in particular, at the city’s sewage system.

SIGNING FOR A MODERN GUYANA’: Finance Minister Dr. Ashni Singh and Manager of the IDB Caribbean Country Department, Gerard Johnson, sign the loan/grant agreements at the Finance Ministry’s Boardroom yesterday.

Through the third, Guyana will be granted US$825,000 to address the enhancement of its public financial management system and the continued computerisation of operations.

Singh said Guyana has come a long way in the last two decades and the current administration remains committed to continue modernising the local infrastructure.

“In the last 20 years, one would see the indubitable evidence of remarkable transformation,” he stated.

Singh added that no effort will be spared to pursue mutually beneficial partnerships, which will aid Guyana’s move forward.

1 comment:

  1. government taking steps into making the more development in Guyana which mean that jobs will be created jobs.