The Gov­ern­ment says it is seek­ing to bor­row up to US$1 bil­lion on the in­ter­na­tion­al mar­ket and has ap­point­ed J.P. Mor­gan Se­cu­ri­ties LLC and Bank of Amer­i­ca Se­cu­ri­ties Inc. as joint lead man­agers and arrangers for the is­suance.

The Kam­la Per­sad-Bisses­sar Ad­min­is­tra­tion said that the funds—which will be used for gen­er­al de­vel­op­ment projects and to re­pay pre­vi­ous loans—will be raised through the in­ter­na­tion­al cap­i­tal mar­ket, where gov­ern­ments is­sue bonds or notes to large glob­al in­vestors.

Un­der the Ex­ter­nal Loans (Tax and Ex­change Con­trol Ex­emp­tion) Or­der, 2026, signed on Mon­day by Fi­nance Min­is­ter Dav­en­dranath Tan­coo, all pay­ments re­lat­ed to the notes—in­clud­ing prin­ci­pal, in­ter­est, and oth­er debt charges—will be ex­empt from tax­es and ex­change con­trol re­quire­ments.