Finance Minister oversees signing of first loan agreement between IDB Lab and Guyanese private sector company

As Guyana’s economy continues to grow, supported by government’s efforts on fostering the environment for private sector expansion, more private sector entities have been widening their investments across the country. On this note, another milestone was reached today with the signing of a loan agreement at the Ministry of Finance overseen by Senior Finance Minister Dr. Ashni Singh. It is the first loan to be accessed by a Guyanese private sector company (Pas Cargo Guyana Incorporated) through the innovation and venture arm of the Inter-American Development Bank’s IDB-Lab.

The signing ceremony followed discussions held between the IDB Group, comprising Country Representative for the Inter-American Development Bank (IDB) Group in Guyana Lorena Solórzano-Salazar, and visiting General Manager of IDB Lab Graham Macmillan and the finance minister and his team from the Ministry of Finance. Mr. Macmillan is on his first official visit to Guyana and Dr. Singh welcomed and congratulated him on his appointment. Following, this, the two teams discussed how they can continue to work together to broaden the Bank’s private footprints in Guyana through financial assistance for more private sector projects countrywide.

Signing on behalf of Pas Cargo was Executive Director of Pas Cargo Guyana Inc. Shridat Narine while the IDB Lab General Manager signed on behalf of the Bank.