An investment team from the United States led by the the US International Development Finance Corporation completed a visit to Guyana yesterday with hopes and plans to bring more investment to Guyana under the US Government’s Growth in the Americas Initiative.
The agency was formed two years ago.
The Development Finance Corporation is the development finance institution of the US Federal Government and is primarily responsible for providing and facilitating the financing of private development projects, according to the US Embassy.
Officials of the bank and members of the delegation met yesterday with representatives of the private sector and last evening they were hosted at a reception at State House.
The Chief Executive Officer (CEO) Mr. Adam Boehler said the agency is already eyeing a number of investment initiatives, including ways to bring down electricity cost, small and medium-sized businesses, agriculture, and infrastructure.
“We have now a foundation for an elevated and strengthened relationship between the US and Guyana, and it started with the finalisation of the elections that gave us the basis. The administration’s commitment to private enterprise, transparency and rule of law is critical for us to invest,” Mr. Boehler said.
The Private Sector Commission is expected to identify other areas of possible investment. The Chairman of the PSC, Nicholas Boyer welcomed the visit by the American investors and their partnership with the PSC.
According to Boyer, “it is a great time for us because we can grow in our partnership with the US, which we clearly have an affinity for, a large diaspora in and a target market for agricultural export. And we have a partner now that can help us with our capital and infrastructure to really unlock the potential of a number of sectors in Guyana”.
The two sides are expected to follow up on their discussions.