Guyana to seek financing from the UK for major infrastructural projects

President Ali

With the visa-waiver for Guyanese travelling to the United Kingdom (UK), more opportunities will become available, which the Government of Guyana will capitalise on.

President Dr Mohamed Irfaan Ali highlighted that Guyana will now seek more financing from the UK for transformative infrastructural projects, “The idea of this visa waiver for visitors is not only about strengthening the relationship and building out the expansion of the economic opportunities between Guyana and the UK.”

President Dr Mohamed Irfaan Ali addressing the gathering at the Press Conference

He was speaking on Tuesday at a joint press conference hosted the British High Commissioner’s residence.

“These days, it is getting very complex to financing market, especially with the volatility that exists. And we are pursuing very, very strong terms in favour of Guyana, fixed rate financing and less than three percent, and that is how we have been pushing for financing. It is difficult to achieve in this market but we are still pursuing this,” the head of state pointed out.

President Ali emphasised the economic potential of Guyana and spoke extensively about opportunities in the infrastructure, tourism, and other sectors with significant development potential.

“Just like the EXIM bank of the US, the UK also has facility in which they build finance and transfer. There is also an export credits available and we are pursuing these elements. One of the projects from the last trade mission, that we’re still pursuing, is that of the new technology to build concrete drains in Guyana at a very fast pace.”

The President emphasised that the drainage system in Georgetown needs to be rehabilitated.

He asserted that this forms part of government’s determined efforts to ensure Guyana’s drainage capacity is improved “and we are looking at the best technology available to do this in a very efficient manner.”

These concrete drains would be constructed by the government in an effort to reduce flooding. The government is looking at innovative ideas that can get the work done efficiently.

Dr Ali stated that by taking this action, the two nations would be able to conduct more commerce and business.

“I know that today’s announcement will open up immense opportunities, not only for infrastructure and economic activities as a result of trade. But also now, looking at Guyana as an important hub in servicing the region itself. This is what this type of decision allows,” President Ali related. 

British High Commissioner Jane Miller

Meanwhile, British High Commissioner, Jane Miller, during her remarks, stated that, “this visa-lift is a real sign of the confidence that the UK has in the growth of our relationship and together with the direct flight that will be happening at the end of March with the British Airways.”

High Commissioner Miller underlined that this move will further strengthen the relationship between Guyana and the UK.

“In mid-November, we’ll be having a trade mission here when British businesses will be coming here to experience all the opportunities in this wonderful country. We hope that with this visa lift, we look forward to welcoming many British and Guyanese businesses to the UK to explore farther opportunities,” the High Commissioner added.