US EximBank, Guyana sign US$2B MoU

(INEWS)United States Export-Import Bank (EximBank) and Guyana signed a US$2 billion Memorandum of Understanding (MoU) to finance projects in Guyana.

President Dr Irfaan Ali along with delegation from Guyana in currently in the United States for high level meetings.

Following the signing Ali said that the MoU signals a “dynamic, bold and futuristic” in advancing the cause for both Guyana and the United States.

“It is the single most important signal for Guyana and the region that the United States is serious about its commitment and promise…this signal is an open invitation for the private sector and leadership of both countries,” President Ali said after the signing.

According to Ali, the areas that were identified shows the broad, multi-faceted nature of the leadership of EXIM bank.

“Anyone looking out on Guyana now, narrowly focus on oil and gas. At their own detriment, because the country has significant other distinct advantages, in becoming the leader on climate change and environmental and biodiversity services, for food security and agriculture. Critical infrastructural links that can unlock tremendous potential for the vast array of natural resources we have. Unlocking the connection of Northern Brazil to the Atlantic Ocean, that will develop a logistics and transport hub, second to none in scale,” the head of state said.

“This is a day that is the single most important signal, not just for Guyana but the entire region, that the United States through one of its agencies, the EXIM bank, is serious about the commitment to this region. This signal is an open invitation to the private sector from both countries to now move aggressively forward on a platform supported by the Government of Guyana and the EXIM bank. I hope they make full use of this opportunity.”

On Monday, President Ali met with US Secretary of State Antony Blinken.

In his remarks, the US Secretary of State said that Guyana has been a very strong partner for the United States and is in many ways a global leader. The two countries, he added, will continue to advance discussions and collaboration in areas for cooperation.

In the weeks ahead, Blinken hinted that several initiatives between the two countries will materialise. Particularly, climate change and energy have been important topics during this current visit to deepen bilateral engagements.

The United States, he emphasised, is “very eager to continue to deepen and strengthen the partnership,” which will also redound to the benefit of the region given the fact that Georgetown, the country’s capital, is also the seat of Caricom.

Meanwhile, President Ali has committed to working jointly in areas of mutual collaboration for not just Guyana, but the Caribbean Community.

The President noted that the discussions this week are a continuation of the dialogue between the two countries, which was initiated during June’s Ninth Summit of the Americas, in which critical issues for Caricom as a region were identified, which include food security, energy security, financing, and the issue of climate change.

He reminded that Guyana is already providing leadership, including on issues of the environment, while pursuing the country’s development agenda.

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