Guyana and China sign US$ 4.93M grant agreement to finance mutually agreed projects
Today, Dr. Ashni Singh, Minister of Finance and His Excellency Zhang Limin, Ambassador of the People’s Republic of China to Guyana signed an Agreement on Economic and Technical Co-operation, whereby, the Government of the People’s Republic of China will provide RMB¥30,000,000 (equivalent to US$4.93 M) to finance projects to be agreed upon by both Governments.
The two representatives also signed the Acceptance Certificate for the procurement of a vehicular mobile container scanner valued at RMB¥ 600,000 or US$ 98,640 to be used by the Guyana Revenue Authority in the discharge of its official duties.
Finance Minister Dr. Ashni Singh and Chinese Ambassador
to Guyana Mr Zhang Limin sign two agreements between
the Governments of Guyana and China
The People’s Republic of China, through the provision of Economic and Technical Cooperation Grants has supported a number of initiatives in areas such as health, trade, infrastructure, energy, mining, transport and communication, agriculture, sport and culture among others. All of these have benefited the Guyanese populace, significantly.
Some notable interventions are the acquisition of two new state-of-the-art ferries to ply the Parika/Supenaam route, which reduces transport time, significantly; the delivery of laptops for the distribution to thousands of vulnerable families; the procurement of firefighting equipment to consolidate the efforts of the Guyana Fire Service; the medical brigade to offer specialist services to the citizens of Guyana; and sport coaches to assist in enhancing the sport sector.
Commissioner General of the Guyana Revenue Authority
Khurshid Sattaur receives the Acceptance Certificate for
the procurement of a vehicular mobile container scanner
from Finance Minister Dr. Ashni Singh
This year, in August 2013, the People’s Republic of China extended a similar grant totalling RMB¥ 50,000,000 or US$8.17M for developmental projects. Moreover, to date, Guyana has benefited from Concessional Loan Agreements totalling some US$200.96M to fund projects such as the CJIA Extension Project which will transform Guyana into an international travel hub through the provision of direct routes to a number of preferred destinations. The E-Government project, when completed will improve the communication infrastructure within the country, and the GPL Infrastructure Development Project is expected to strengthen and improve the electricity network through the construction of new substations and the upgrade of existing ones along the coastland where transmission lines and fibre optic cables will be installed to link the substations.
While delivering his remarks, the Chinese Ambassador stated that this was a second grant provided, this year, to the Government and people of Guyana and, he explained that it represents the long historical friendship shared by both countries. Ambassador Limin affirmed that he is confident this grant would be utilized to develop the social and economic sectors of the country from which benefits would be accrued to the people of Guyana. He, also, said that the vehicular mobile scanner for the Guyana Revenue Authority would help to improve the Customs’ administration.
Finance Minister Dr. Ashni Singh and Chinese Ambassador
to Guyana Mr Zhang Limin exchange documents following
the signing of two agreements between the Governments
of Guyana and China
In responding to the Ambassador remarks, Minister Singh reiterated the special relationship between the two countries. He stated that Guyana is proud to be the first Caribbean country to have established diplomatic relations with China and expressed his pleasure at the evolution and manifestation of the Chinese relationship with the region.
Minister Singh said that China’s friendship with the Caribbean is important and has been reinforced with the visits of high level Chinese officials to the region. He further added that, to date, Guyana has made good use of the resources provided by the Government of China to implement a number of transformative projects. He welcomed Chinese companies seeking to do business in the Caribbean and, more specifically, those desirous of choosing Guyana as a new destination for business. He also said that China was a good example to the developing world for having attained and sustained rapid growth over the years.
On referring to the vehicular mobile scanner, Minister Singh acknowledged that this is a highly valued piece of equipment that would be added to the capital stock of the Guyana Revenue Authority and which would be used to enhance the organisation’s capacity to carry out its mandate in keeping with international trade standards.
In concluding, Minister Singh thanked the Government and people of the People’s Republic of China for their continued support for Guyana’s development efforts and stated that Guyana looks forward to further the enrichment of our relations.(Ministry of Finance)