President of the Inter-American Development Bank (IDB), Ilan Goldfajn, and Guyana’s Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh, today signed three loan projects for the country, reaffirming IDB’s commitment as Guyana’s main strategic partner to promote resilient and sustainable economic growth.
The signing took place during the XI Annual Consultation of Caribbean Governors, hosted in Trinidad and Tobago. This was the first official visit of the IDB President to a Caribbean country.
First, the Health Care Network Strengthening in Guyana operation for a total amount of US$97 million will expand the capacity of seven hospitals in both coastal and interior communities, extend coverage of diagnostic exams and medical consultations, advance telehealth services, and increase access and efficiency of the public health system.
This project is expected to benefit over half of Guyana’s population including the indigenous people with interventions in all 10 of the country’s regions.
The second operation, Program to Support Climate Resilient Road Infrastructure Development, will provide US$100 million to upgrade and expand the quality of roads and utility service along the East Bank Demerara corridor.
This involves financing a 25.5 kilometer two-lane roadway with modern and innovative approaches that will improve access and safety, including for vulnerable road users.
Finally, with the signing of the Enhancing the National Quality Infrastructure for Competitiveness program, Guyana will reformulate and access additional funding of US$8,000,000 to enhance the National Quality Infrastructure’s capacity to promote the adoption of quality standards among Guyanese Micro, Small, and Medium Enterprises (MSMEs).
In November 2016, the IDB approved US$9,000,000 to Guyana for Enhancing the National Quality Infrastructure for Economic Diversification and Trade Promotion. The Government of Guyana requested additional financing to support its priorities of a more diversified and productive base.
