– to advance Guyana’s development priorities
President Dr Mohamed Irfaan Ali has welcomed a US$500 million line of credit from India, which will finance transformative investments in Guyana’s road infrastructure, healthcare and defence sectors.
The announcement followed a bilateral engagement between the head of state and India’s Minister of External Affairs, Dr Subrahmanyam Jaishankar, on Wednesday.
The meeting took place on the sidelines of the 28th Commonwealth Heads of Government Meeting (CHOGM) in Antigua and Barbuda.
The financing marks the next phase of India’s investment cooperation with Guyana and fulfils a commitment by Indian Prime Minister Narendra Modi during his visit to the country in November 2024.
President Ali said the credit facility would support major infrastructure works, including roads that will open up thousands of new homes and house lots, as well as improvements to main highways.
The health and defence sectors are also expected to benefit from the financing.
“We are very pleased that we can conclude also our discussions on the next phase of investment by India into Guyana, the $500 million line of credit, which will cover transformative infrastructure,” the president stated.
Dr Jaishankar confirmed India’s decision to extend the facility, noting that both governments would now work towards developing projects under the financing arrangement.
Meanwhile, President Ali also welcomed India’s growing contributions to healthcare delivery through affordable medication, technology transfer, and the integration of healthcare services.
He noted that cooperation between the two countries has already resulted in tangible benefits, including the introduction of Indian medical technology in Guyana.