US EximBank Offers US$2Bn In Funding To Guyana

• Guyana and the United States Export-Import Bank (EximBank) on July 27^th signed a Memorandum of Understanding (MoU) to finance projects in Guyana – outside of oil and gas – for up to an initial US$2Bn.
• The MoU represents an important milestone in US-Guyana relations since it lays the foundation for Guyana to access EXIM financing and facilities for the first time and provides for interventions at a scale that is likely to have a lasting developmental impact.
• The MoU also identifies 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.
• President Irfaan Ali said the move was “dynamic, bold and futuristic in advancing the cause of both countries.” The areas identified show the broad and multifaceted nature of the leadership at the bank, as most investors narrowly focus on Guyana’s oil and gas opportunities.
• The signing of the MoU is seen as a demonstration of the commitment to remove inhibiting factors that have long affected easy access to financing by countries across the Caribbean region, including Guyana.

(Source: Newsroom)