Politics · India Bureau
India extends $500 million credit line to Guyana for development projects
India has announced an extension of a USD 500 million line of credit for infrastructure, healthcare and defence initiatives in Guyana. External Affairs Minister S Jaishankar made the announcement during bilateral talks with Guyanese President Irfaan Ali in Antigua and Barbuda.
LSN India ·
External Affairs Minister S Jaishankar met with Guyanese President Irfaan Ali on Wednesday on the sidelines of the Commonwealth Heads of Government Meeting in St. John's, where the two nations reaffirmed their commitment to deepening bilateral cooperation. Jaishankar, who arrived in Antigua and Barbuda on Tuesday, announced the extension of the USD 500 million line of credit designated for road construction, health sector development and defence-related projects.
The announcement follows Prime Minister Narendra Modi's visit to Guyana in 2024, which marked a significant milestone in India-Guyana relations. During Wednesday's meeting, the two officials reviewed the trajectory of bilateral cooperation and explored new avenues for strengthening ties between the nations.
Beyond the credit facility, India and Guyana also inked fresh agreements aimed at bolstering economic collaboration. The two countries signed accords on the supply and installation of micro and small enterprises manufacturing projects, as well as grant assistance for implementing Quick Impact Projects. These agreements underscore India's commitment to supporting Guyana's development agenda and fostering sustained economic partnership in the region.