Tuesday, May 30, 2023

Guyana in US$2 billion MoU with United States EXIM Bank

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The Government of Guyana and the Export-Import Bank of the United States of America signed a memorandum of understanding (MoU) involving some US$2 billion.

The Bank is the official export credit agency of the US federal government.

The agreement was signed by the Minister of Foreign Affairs and International Cooperation, the Honourable Hugh Todd and the President of the EXIM Bank, Reta Jo Lewis.

Guyana President, Dr. Mohamed Irfaan Ali and First Vice President and Vice Chair of the Board of Directors at the bank, Judith Pryor also witnessed the signing.

According to the details of the arrangement, several broad areas, including infrastructure, energy, telecommunications, water treatment and sanitation and agriculture were identified for projects.

Guyana oil bounty can fuel massive economic diversification, says US Ambassador | OilNOW

As access to finance has proven difficult for some time, President Ali called the signing, “the single most important signature not only for Guyana but for the region.”

He said it also shows that the United States is committed to supporting the region.

“We will now aggressively proactively and in a dynamic way, pursue this MoU with full realisation that the potential benefits bring and a win-win for both the US and Guyana,” Dr. Ali said.

He has invited representatives of the Bank on a high-level visit to Guyana.

Ali is in Washington with a high level delegation to meet with the federal government. He has already met with United States Secretary of State, Antony Blinken, who called Guyana a global leader on several issues, including for its climate-conscious advocacy.

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