External loan agreements with International Development Association for National Assembly

─ financing will support fiscal stability, oil and gas capacity programmes

DPI, Guyana, Thursday, August 16, 2018

Two external loan agreements signed between the Government of Guyana and the International Development Association (IDA) will be laid in the National Assembly.

At a post-Cabinet press briefing today, Minister of State, Joseph Harmon said the first includes a financing credit arrangement of Special Drawing Rights (SDR) of 24.4Million that will provide financing in support of the first Programmatic Financial and Fiscal Stability Development Policy programme.

An advanced finance agreement to the tune of $1.6Million will be used for the proposed Oil and Gas Capacity Building project.

Approval was granted by the Cabinet and the agreements will be presented to the National Assembly in accordance with the External Loans Act.

Stacy Carmichael