The Guyana Government has inked three major loan agreements with the Inter- American Development Bank for investments in the transport and health sectors, as well as to support Guyana’s economic competitiveness.

The agreement was signed by Finance Minister Dr. Ashni Singh and the IDB’s President, Ian Goldfajn.

The Bank will be providing US$117 million to support the climate resilience road infrastructure development, while the additional funds will go towards the strengthening of the health care system and and the enhancement of the quality of infrastructure.

In brief remarks, the Finance Minister thanked the Bank for its continued support to Guyana.

“The IDB has been a reliable and dependable development partner to Guyana. The strength of this partnership is evidenced not least in the three agreements that we are going to sign today, making critical investments in three areas that go to the core of the development of our Government’s agenda,” the Minister added.

The IDB President said the bank is pleased to be part of the developmental agenda of the country.

“Guyana is growing and we are very lucky to be part of this growth,” Mr. Goldfajn said, noting that the projects are in priority areas.

In a release the Ministry of Finance explained that the loan provided for the health sector will support the expansion of the capacity at seven hospitals in both coastal and interior communities, extend coverage of diagnostic exams and medical consultations, advance medical services, and increase access to a more efficient public health system.

In addition, the loan agreement for infrastructure projects include improving road service quality; and utility service, along the East Bank Demerara corridor.

“The rehabilitation of this corridor represents a key component of the country’s road network within the integration corridor that connects to Brazil via Lethem, and supports key value-chains including manufacturing, food processing, construction materials, mining and forestry and agricultural commodities including fertilizer,” the Finance Ministry said.

The other loan facility seeks to improve the National Quality Infrastructure (NQI) capacity to promote the adoption of quality standards among Guyanese Micro, Small and Medium Enterprises.

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