We have not received any loans from Islamic Bank – Finance Ministry
Apr 08, 2018 , https://www.kaieteurnewsonline...nk-finance-ministry/
Guyana has not received any loans from the Islamic Development Bank, the Ministry of Finance says.
Yesterday, the Ministry said it has noted the conclusion reached by some media houses that Guyana is a recipient of US$900M loan from the Islamic Development Bank (IsDB).
The Ministry said that it “wishes to clarify that contrary to that conclusion, the IsDB has a resource envelope of US$900M that is potentially available from which the Government of the Cooperative Republic of Guyana can borrow. The Minister of Finance, Winston Jordan in his speech to the 43rd Annual Meeting of the IsDB Group was clear in his identification of the named sum.”
The ministry explained that during the period 27-29 November 2017, the IsDB mounted a mission to Guyana to develop a medium term work plan for the period 2018- 2022.
“That work plan outlines a pipeline of projects that the Bank can support over the next five years.
The potential areas of collaboration between the Bank and the Government of Guyana cover several development sectors including Agriculture, Banking and Finance, Human Development, Energy and Rural Development.”
The current package of potential projects, consisting of proposed grant and loan operations is valued at approximately US$900M.
“The Government is currently in the process of designing projects to commence accessing some portions of the IsDB resources,” the ministry said.