Pas Cargo breaks new ground with first IDB Lab loan to Guyanese company

(Kaieteur News) – Guyanese-owned logistics company Pas Cargo Guyana Inc. has broken new ground by becoming the first private sector company in Guyana to secure financing through IDB Lab, the innovation and venture arm of the Inter-American Development Bank (IDB).

The milestone was marked on Tuesday with the signing of a loan agreement at the Ministry of Finance, in the presence of Senior Finance Minister Dr. Ashni Singh. The development comes as Guyana’s economy continues to expand and the Government promotes greater private sector investment, particularly in non-oil sectors, the Ministry of Finance said in a press release.

Signing on behalf of Pas Cargo was Executive Director Shridat Narine, while IDB Lab General Manager Graham Macmillan signed on behalf of the Bank. The signing followed discussions between the IDB Group, represented by its Country Representative in Guyana, Lorena Solórzano-Salazar, and Macmillan, who is on his first official visit to Guyana, and Minister Singh and senior officials from the Ministry of Finance.