According to Dr. Ashni K. Singh, Senior Minister in the Office of the President with Responsibility for Finance and Public Service, the Guyana Government continues strengthening the Guyana Defence Force’s (GDF) capabilities. On Friday, the Government signed a Line of Credit Agreement (LOC) with the Export-Import Bank of India (EXIM Bank) for the procurement of two aircraft.
Indian EXIM Bank’s Deputy General Manager—Line of Credit Group, Mr. Sanjay Lamba, signed on behalf of the bank.
According to a release from the Ministry of Finance, this agreement represents the latest installment of the Government’s ongoing efforts to ramp up the GDF’s capabilities. Its genesis was President Dr. In January 2023, Irfaan Ali visited the Indian aerospace and defence company Hindustan Aeronautics Limited.
During his remarks, Dr. Singh expressed the government’s deep appreciation for India’s unwavering support of Guyana and alluded to the long-standing relationship between the two countries rooted in culture, history, and people, as well as economic and commercial cooperation in recent years, the release said.
Dr. Singh also acknowledged the EXIM Bank’s instrumental role in facilitating the presence of Indian companies in Guyana, which allowed the country to expand its productive capacity in various sectors.
As a result, Dr. Singh said, “We wish to see more Indian companies operating in Guyana, and we are open to companies from around the world, including India, of course, as India is an economy at the cutting edge of technology, and we want to benefit from that technology,” according to the release.
He reiterated the Government’s commitment to strengthening the country’s security sector and explained that the Government had invested heavily in strengthening the GDF, particularly in its specialized wings, including the Air Corps and the Coast Guard. As a result of the purchase of the two aircraft, he said, the force has made its largest capitalisation investment to date.
The High Commissioner, Dr. Singh, also took the opportunity to thank Mr. Lamba and his team for their incredible efforts in completing the LOC and everyone else who contributed, including Mr. Lamba and his team, Telang and his team from the Indian High Commission, Brigadier Omar Khan and his team of the GDF, Dr. Tarachand Balgobin, the Chief Planning Officer of the Ministry of Finance, and other technical staff.
India’s High Commissioner to Guyana, Dr. Amit Telang, said that the signing of the LOC is just another way for India to cement its high-respected partnership with Guyana. The release also noted that this was the first defence LOC signed with the Caribbean region.
Mr. Lamba, who was visiting for the first time, said that the relationship between Guyana and the Bank had been very satisfactory, and he looked forward to continuing it.
Brigadier Omar Khan, the GDF’s Chief of Staff, acknowledged the role that the Government of India had played in defence training.
As stated in the release, the signing reflects President Ali’s vision of a strengthened security sector to help maintain peace and prosperity for “One Guyana.”
The ministry stated that the Government of Guyana has received 11 Lines of Credit (LOCs) from India’s EXIM Bank over the years. The release further noted that Guyana and India established diplomatic relations on May 26, 1966, and maintain a strong developmental cooperation program that benefits both countries.