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Govt. hopes new US-administration will have larger appetite to lend for energy projects – Pres. Ali
Kaieteur News- President Irfaan Ali has expressed optimism that the new United States administration will adopt policies that encourage greater lending for energy projects, by making financing more accessible and affordable for countries like Guyana.
President Irfaan Ali
“Globally for example we know that and everyone knows that we went through a long period where capital for energy projects was drying up or becoming more expensive and that was because of a policy position globally,” President Ali said during an episode of Energy Perspectives Podcast on Sunday.
The President said that with the new U.S. Administration, “we hope that there will be greater appetite for lending for energy projects and the cost of that financing will be more manageable because the cost was ramping up um those are uh key um issues.”
President Ali’s comment follows remarks made by Guyana’s Minister of Finance Dr Ashni Singh, who signaled the government’s intention to take more loans from the United States.
Recently, the Guyanese government finalized a US$527 million loan agreement with the United States Export-Import (US EXIM) Bank for the Wales Gas-to-Energy (GTE) project.
At the event, Minister Singh indicated Guyana’s readiness to access another US$1.5 billion from the bank. Notably, the US EXIM Bank had committed a total of US$2 billion in financing for projects in Guyana through a Memorandum of Understanding (MoU) signed in 2022, with US$527 million now allocated to the GTE project.
“There is still US$1.5 billion and we are looking forward to taking up all of that loan,” Dr. Singh stated, signaling the government’s intent to continue strengthening its partnership with the US EXIM Bank.
(Govt. hopes new US-administration will have larger appetite to lend for energy projects – Pres. Ali)
- borrow, EXIM, Irfaan Ali, loans, US
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