Corentyne River bridge: Project should be marked by affordability, mutual benefit – SGCC   

As the respective sides representing Guyana and Suriname advance talks on the financing and operational modalities of the highly-anticipated Corentyne River Bridge, the importance of this project being affordable and mutually beneficial to both countries has been underscored.
This aspect of the discussions was highlighted by the Suriname-Guyana Chamber of Commerce (SGCC), which applauded the progress made following last Saturday’s meeting between President Dr Irfaan Ali and his Surinamese counterpart, President Chandrikapersad Santokhi, along with their respective teams of ministers.

The SGCC noted in a statement on Wednesday that the high-level involvement of key officials from both countries emphasizes the project’s critical nature and signifies a unified effort to realise a vision that would reshape the regional dynamics of both countries.
The SGCC has said the bridge across the Corentyne River is not just a physical manifestation of the connection between Suriname and Guyana, but would also serve as a cornerstone for regional integration, facilitating the movement of people and enhancing trade and investment opportunities.
While SGCC members have expressed positive feedback on this project through a recent survey – something which indicates a strong belief that the bridge would significantly increase the free movement of people and goods across the border — they noted that it is paramount to recognize that the physical connection the bridge provides is just one piece of the puzzle.
“The true potential for enhanced agricultural cooperation, tourism promotion, and economic growth leading to sustainable prosperity for both nations lies not only in the steel and concrete of the bridge itself. Our members strongly emphasize that without a concerted effort to reduce bureaucracy, streamline logistical processes, and dismantle other non-physical barriers, the bridge will not be able to fully ‘earn back its money’ or realize its true potential. The SGCC thus urges the governments of both nations to take these concerns seriously and consider them in their planning and execution stages,” the statement has said.
According to SGCC, addressing these challenges in tandem with the construction of the bridge is critical to unlocking the full scope of benefits the Corentyne bridge can bring to the two neighbouring countries.
Nevertheless, as the two sides prepare to enter the project’s next stage, which focuses on pricing, technical aspects, financing, and operational modalities, SGCC has expressed full support for these efforts.
“The SGCC is confident that the collaborative approach adopted by the two governments will ensure that the project’s execution will be marked by affordability, efficiency, and mutual benefit.
“As the anticipation for the Strategic Dialogue and Cooperation Platform (SDCP) meeting in May 2024 grows, the SGCC looks forward to contributing at various levels, offering the perspective and expertise of our members to ensure that the bridge project not only strengthens the economic ties between our nations, but also fosters a deeper sense of community and shared destiny,” the Chamber has detailed.
Chairman of the SGCC, Dr Vishnu Doerga noted in Wednesday’s missive that “Guyana and Suriname have the best chance at full economic integration, due to our geographic and historical ties. The bridge will serve as a critical economic driver for both countries, allowing for both populations to experience the best goods and services from each respective country with more efficiency.”

Connectivity, progress
Suriname’s Ambassador to Guyana, Liselle Blankendal, has echoed this sentiment by stating, “The bridge between Suriname and Guyana is more than just steel and concrete. It represents the culmination of years of collaboration, vision, and determination. It symbolizes both countries’ commitment to connectivity, progress, and mutual prosperity.”
With Guyana and Suriname standing on the threshold of a new era of prosperity, connectivity, and regional cooperation, the Chamber has said, it commits to remaining an active partner in this journey, championing the benefits of the bridge and advocating for the interests of its members, to ensure that this project achieves its full potential for the betterment of both our countries.
Following Saturday’s meeting in Guyana, Presidents Ali and Santokhi instructed the Joint Ministerial Team – which comprises Ministers of Foreign Affairs, Finance, and Public Works from the two countries – to enter the next stage by engaging in discussions in relation to terms of pricing, technical aspects, financing, and operational modalities with the shared objective of optimising affordability and concessionality.
Experts will also jointly work towards a political and legal framework, start the supervisory tendering process, and draft the agreement regarding the ultimate board that would jointly manage the Corentyne River bridge. Clear timelines have been set for finalisation of these activities.
Only last month, during the recently-held trilateral summit in Guyana, Brazilian President Luiz Inácio Lula da Silva expressed satisfaction at efforts being undertaken for the construction of the bridge over the Corentyne River.
In a previous joint statement, issued last week following a recent meeting in Paramaribo, it was noted that as discussions progressed, construction of the bridge could commence before the end of 2024.
In October 2023, two companies – Dutch engineering company Ballast Nedam and Chinese-owned China Road and Bridge Corporation (CRBC) – submitted proposals to build the bridge over the Corentyne River to link Guyana and Suriname. However, those companies have since indicated that they are unable to meet the pre-financing requirement.
Earlier this month, during an interview with Guyana Times on the sidelines of the Caribbean Community (Caricom) Heads of Government Conference held in Georgetown, President Santokhi had said that financial institutions, including the Inter-American Development Bank (IDB), were willing to fund the construction of the bridge.
“The companies should come with prefinancing, but they are not interested in that modality, so we’re looking for other types of financing. There are institutions from the region and outside the region who are willing to finance it. It can either be [through] the company, or it can be the state; but, you know, our case is a little bit different, because we are bound by the IMF (International Monetary Fund) programme, so we cannot take the loan. So, we need to be very pragmatic in this, so that is the advice that we’re looking for [from the Joint Ministerial and technical teams],” the Surinamese Head of State had said.
The Corentyne River bridge is one of the first agreements between Presidents Ali and Santokhi. The high-span Corentyne River bridge would be approximately 3.1 kilometres in length, and would connect Moleson Creek in Guyana to South Drain in Suriname with a landing on Long Island in the Corentyne River, where a commercial hub and tourist destination would be established. That duty-free zone would see major infrastructural development, such as hotels, recreational parks, entertainment spots, tourist attractions, malls, and farmers’ markets. (G8)