Guyana eager to increase ties with IsDB – PM during bank’s president visit …as IsDB president to also inspect ongoing projects funded by facility

…as IsDB president to also inspect ongoing projects funded by facility

Over the past few years, the Islamic Development Bank (IsDB) has played an increasingly important role in financing projects in Guyana. Now, IsDB President, Dr Muhammad Sulaiman Al Jasser is in Guyana to engage in high level talks with Government officials.

The IsDB president will be visiting a number of Latin American countries between September 24 and 29. During his visit to Guyana on the first leg of his trip, Al Jasser met with Prime Minister, Brigadier (retired) Mark Phillips and other members of the Cabinet at the Arthur Chung Conference Centre (ACCC) on Monday.
In a statement, it was explained that talks centred on development projects and areas to promote further collaborations with the bank. During the meeting, the Prime Minister expressed eagerness for Guyana to deepen its bilateral relations and cooperation with the bank.
At a meeting with President Dr Irfaan Ali on Monday evening at State House, there were discussions on the bank’s involvement in the country’s development trajectory.
During the engagement, President Ali highlighted his Government’s vision for Guyana 2030 and beyond.
Following the meeting, President Ali hosted the visiting delegation for dinner.
Other members of the Cabinet who were present at the meetings on Monday were Vice President Bharrat Jagdeo, Senior Minister within the Office of the President with responsibility for Finance, Dr Ashni Singh; Agriculture Minister Zulfikar Mustapha, Public Works Minister Juan Edghill, Housing and Water Minister Collin Croal along with other Government officials.
The IsDB president is visiting Guyana and Suriname, between September 24 to 26, 2023, and September 27 to 29, 2023, respectively. According to a statement from the IsDB, the bank’s president will be visiting ongoing projects among other activities. Further, it was explained that his visit underscores “the bank’s unwavering commitment to supporting the socio-economic development of Latin American countries.”
“The decision to visit Latin American countries follows the conclusion of the UN General Assembly, during which crucial development issues related to the achievement of the Sustainable Development Goals (SDGs) were addressed,” the statement said.
“Dr Al Jasser’s itinerary in these Latin American countries will encompass visits to projects that hold significant promise for advancing the SDGs. In the initial phase of the mission, he will engage in high-level discussions with the officials of the Government of Guyana, coupled with on-site inspections of pivotal development projects.”
In October of last year, after several months of waiting, a US$120 million loan that the Government had sought for resurfacing the Soesdyke-Linden Highway was approved by the IsDB.
Prior to that approval, a team from the ISDB had visited Guyana on an appraisal mission for the loan request. The IsDB team was led by Atiq Ahmad, Lead Global Transport Specialist – Economic and Social Infrastructure Department, General Directorate for Global Practices & Partnerships of the IsDB.
Upgrading the highway will involve the rehabilitation and reconstruction of 73 kilometres of the road with two lanes undivided, 9 bridges, 6 culverts with improved design, quality and standards. The project also includes ancillary works and road corridor improvements, providing essential public administration support, improved connectivity with communities, roadside and other facilities.
Earlier this month, Public Works Minister Juan Edghill had disclosed that following the signing of the loan from the IsDB in May, the project of resurfacing the Soesdyke-Linden Highway is now in the procurement stage.
Previously, Finance Minister Dr Singh had also signed a Memorandum of Understanding (MoU) with the IsDB concerning the Country Engagement Framework for Guyana for green, resilient and sustainable infrastructure as well as for supporting economic diversification and doing business. (G3)