US$200B funding available as US bank eyes investment opportunities in Guyana

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Mr Adam Boehler meets President Dr Irfaan Ali at State House

With some US$200 billion in funding available, the United States International Development Finance Corporation is ready to invest in Guyana.

Head of the US Corporation, Adam Boehler has led a team of investors to Guyana.

According to him, they are eyeing opportunities in a number of sectors, including energy, agriculture and infrastructure.

Boehler made this revelation on Tuesday evening, during a joint press conference at the Pegasus Hotel alongside US Ambassador to Guyana Sarah-Ann Lynch and Private Sector Commission (PSC) Chairman Nicholas Boyer.

L-R: US Ambassador Sarah Ann Lynch, Mr Adam Boehler, and Nicholas Boyer during the press conference

During the press engagement, it was revealed that the institution even has available some $200 billion in loans that Guyana can tap into for investments and developmental projects.

According to Boehler, the discussions with Guyana are among the best he has had in a long time.

“Some of the topics we talked about, which I’m sure we’ll talk about with the President and Cabinet, is how do we get the cost of electricity down so that the average person pays less. We talked about investment in small and medium sized business, we talked about investment in agriculture and farmers. We talked about infrastructure, whether that’s a deepwater port or a bridge between Guyana and Suriname.”

“At the end of the day, one of my main goals at the DFC is to increase the number of jobs and livelihoods for persons living in Guyana…

“We’re looking to move to action very quickly, which is why we came. I am hopeful we will announce investments in Guyana very soon. We are going to engage with Nick [Boyer] and others, to identify projects we can invest in,” Boehler explained.

Boehler’s team included representatives from the US Department of Treasury and State, the US Export/Import bank, the National Security Council and the Department of Homeland Security.

Boehler described the collaboration as unprecedented, while noting that the conclusion of the five months long protracted elections in Guyana paved the way for it to happen.

In fact, he tied the conclusion of the elections to the multiple visits Guyana has seen from high-level foreign officials since President Dr Irfaan Ali was elected President.

“I’d like to call out the historic nature of having six US Government agencies, all coming together at the same time. That’s the first time it happened in the western hemisphere in decades and it speaks to our focus on Guyana,” he said.

“I think now, we have a foundation for an elevated and strengthened relationship between the United States and Guyana. And it started with the finalisation of the democratic elections here, which gave us the basis for the Administration’s commitment to private enterprise, transparency and the rule of law. That’s critical for us to invest,” Boehler added.

It is understood that the US Embassy in Guyana will serve as the focal point for further engagements with the US Government agencies.

GCCI President Nicholas Boyer

In an interview with the media after the press conference, Boyer explained that Boehler’s visit is a means of the US activating the Framework Agreement/Memorandum of Understanding (MoU) that US Secretary of State Mike Pompeo signed with Guyana last month during his visit here.

“The US Government agencies met a private sector group including the Private Sector Commission and its members, the American Chamber of Commerce in Guyana and GO-Invest,” Boyer explained.

Boehler’s visit comes less than a month after US Secretary of State, Mike Pompeo, touched down in Guyana for a visit.

During his time here, Boehler and his team were hosted at State House by President Dr Irfaan Ali and his Cabinet.