The Minister of Finance, Winston Jordan, this morning met with the Resident Representative of the Exim Bank of India, Sailesh Prasad and the two signed a $US10 Million Credit Agreement for the acquisition of an ocean going ferry for the Georgetown- North West route.
Also present at the signing were the Minister of Public Infrastructure, David Patterson and the High Commissioner of India, Venkatachalam Mahalingam.
Minister of Public Infrastructure, David Patterson spoke about the aging vessels at Parika and the Georgetown wharves. He pointed out the importance of acquiring the new vessel and said that with the signing, he hopes the lives of residents in the North West District would be made easier and access to transportation would be vastly improved.
Meanwhile Jordan reiterated the importance of the loan deal and said that while service to residents had been locally compromised, the loan is expected to provide improved services, a number of social and economical benefits as well.
He added that this bodes well for the residents of the North west district as they would be able to travel and send goods to Georgetown at an affordable rate.
He further stated that it is a laudable gesture of India’s support of trade in Guyana and extended sincere appreciation on behalf of the Guyanese government.