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Govt. adds US$156M World Bank loan to growing debt pile
— another massive borrowing to fund infrastructure push
(Kaieteur News) – The Government of Guyana has signed a US$156 million loan agreement with the World Bank under the Integrated Transport Corridors Project (ITCP) to boost the country’s transport infrastructure sector.
Finance Minister Dr. Ashni Singh with World Bank Vice President for Latin America and the Caribbean, Susana Cordeiro Guerra.
In a statement, it was disclosed that the agreement was signed in Washington by Senior Minister in the Office of the President with Responsibility for Finance, Dr. Ashni Singh, and World Bank Vice President for Latin America and the Caribbean, Susana Cordeiro Guerra, on the sidelines of the 2025 World Bank Group/IMF Annual Meetings, held from October 13 to 18.
Notably, the Bank had approved the project earlier this year with the aims of supporting Guyana in upgrading and rehabilitating its road infrastructure.
The ITCP will focus on improving the country’s transport network across selected regions to build more resilient infrastructure capable of withstanding natural hazards, while providing safer and more reliable transportation.
Dr. Singh, in brief remarks before the signing, welcomed the partnership, outlining the project’s role in the government’s development agenda.
“This project has the potential to help unlock increased production and productivity in our non-oil economy, such as through farm to market roads which facilitate both production and trade, as well as to improve connectivity between communities,” the minister said.
According to the Ministry of Finance, the ITCP aligns with Guyana’s national development goals to:
- Boost agricultural exports and food security by improving market access
- Unlock housing and tourism potential through better connectivity
- Reduce traffic fatalities with improved road safety features
- Enhance economic growth by facilitating efficient movement of goods and people
- Improve access to health and education services
- Strengthen climate resilience through dedicated infrastructure solutions
Further, it was stated that the project supports the PPP/C Government’s 2025–2030 Manifesto goals, which focus on modernizing Guyana’s transport infrastructure to drive economic growth and improve citizens’ quality of life.
Over the past five years, the Irfaan Ali administration has rolled out several transformative infrastructure projects, including new highways, roads, and bridges that have significantly reshaped the national landscape.
Among its upcoming priorities are the continued upgrade of the Linden–Lethem Highway, construction of bridges at Kurukupari and Puruni, and completion of the East Bank four-lane highway to the Cheddi Jagan International Airport (CJIA). The government also plans to begin work on a Berbice River Bridge linking Regions Five and Six and the Corentyne River Bridge, to connect Guyana and Suriname, projects aimed at expanding trade and regional integration.
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