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Guyana signs US$150M loan agreement with IDB to build six new hinterland schools, upgrade 19
President Irfaan Ali, Senior Minister Dr. Ashni Singh and IDB President Ilan Goldfajn and other officials yesterday at the Marriott Hotel.
Kaieteur News – The Government of Guyana (GoG) and the Inter-American Development Bank (IDB Group) signed a US$150 million loan agreement that focuses on improving the country’s education sector by enhancing education quality and infrastructure.
The agreements were signed during the IDB Group’s XII Annual Consultation with Caribbean Governors of the IDB held at the Guyana Marriott Hotel, in Georgetown. President Irfaan Ali also attended the event.
Signing on behalf of Guyana was Senior Minister in the Office of the President with responsibility for Finance and Public Service Dr. Ashni Singh, while IDB President Ilan Goldfajn signed the agreements on behalf of the IDB.
In education, close to 9,000 primary school students and their communities will benefit from a Conditional Credit Line for Investment Projects (CCLIP) for transforming Guyana’s education sector and the first individual operation for support for educational recovery and transformation.
The CCLIP enables Guyana to access up to US$150 million of which the first operation is for US$90 million.
With this investment, over 2,600 students are expected to benefit from the construction of six new primary schools and more than 6000 students in 19 primary schools in the Hinterland regions will see their schools rehabilitated.
Also, 7,000 students and 300 teachers from grades 2 to 6 in the selected schools will receive digital devices to enhance teaching and learning experiences.
Moreover, an investment grant for a total of US$5 million will strengthen instructional leadership at the district and school levels, with financing from the Global Partnership of Education (GPE).
It will complement the educational support by enhancing leadership capabilities among 200 education leaders, spanning district and school leadership, Ministry officials, and subject specialists. The operation aims to contribute to improved quality, equitable participation, and achievement in basic education for the sustainable development of Guyana.
In his address, IDB President Goldfajn said, “Today’s signings are an important step in our continued collaboration with the government to improve the lives of the Guyanese people. We are confident that these projects will make a difference in improving education conditions, increasing energy reliability and financing sustainable tourism, tertiary education and logistic sectors.”
He added, “One will expand access to safe and better learning environment in primary schools…this investment will help drive growth by enabling youth to seize economic opportunities. “
The IDB president stated that the second agreement will help address fundamental challenges in the education sector, including teacher training.
Additionally, in his address, Senior Minister Dr. Singh said, “Not least because of the value we place on the IDB as a long-standing provider of development support at scale, but also because of the IDB demonstrated reliability and trustworthiness as a development partner over the years.” Minister Singh also highlighted the bank’s pivotal role during Guyana’s economic evolution.
Reflecting on the historical ties between Guyana and the IDB, Minister Singh noted that since joining the bank circa 1877, Guyana has benefitted from over US$2 billion worth of support for public sector operations.
Amidst Guyana’s current era of rapid economic growth and transformation under President Irfaan Ali’s leadership, Minister Singh underscored the government’s unwavering commitment to improving the lives of all citizens. This commitment, he noted, includes building resilience for the medium and long term by diversifying the economic base and enhancing competitiveness across all sectors while prioritizing fiscal and environmental sustainability.
Turning to the consultation’s agenda, Minister Ashni highlighted the importance of discussing the IDB Group’s future strategies and goals. He expressed particular interest in the bank’s regional development plan under the banner of “One Caribbean,” aligning with Guyana’s pursuit of “One Guyana.”
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