Govt exploring “other possibilities” for US EXIM Bank financing – Singh

…as financial institution seeks collaboration with local SMEs

Following the historic approval of the US$527 million loan for the Gas-to-Energy (GtE) project, the Guyana Government is now exploring a number of potential ventures in order to tap into the remaining funding available at the United States Export-Import (EXIM) Bank.

“At the governmental level, we have a number of other possibilities for future collaboration which are under discussion,” Finance Minister Dr Ashni Singh recently told Guyana Times.
Back in July 2022, Guyana and the US EXIM Bank had signed a Memorandum of Understanding (MOU) for financing of up to US$2 billion for projects in several sectors including infrastructure, energy, telecommunications, water treatment and sanitation, and agriculture. The MOU provides a framework within which financing can be provided by EXIM to advance developmental projects in Guyana while promoting the export of US made goods and services.
Consequently, in 2023, the Guyana Government applied for a loan from the US EXIM Bank to finance the Gas-to-Energy project, which includes the construction of an Integrated Natural Gas Liquid (NGL) plant and a 300-megawatt (MW) combined cycle power plant at Wales, West Bank Demerara, utilising natural gas from the country’s offshore operations in the Stabroek Block.
On December 26, 2024, it was announced that US EXIM Bank’s Board of Directors approved US$527 million to Guyana’s Finance Ministry to support the highly anticipated Gas-to-Energy project, which it said will strengthen the country’s energy security by doubling its installed electric capacity.
According to the bank, the financing from the loan transaction will aid the construction of a natural gas separation plant, a 300 MW combined cycle gas turbine power plant and services related to the gas supply pipeline near Georgetown.
On Friday, Minister Singh and the US EXIM Bank President and Chair, Reta Jo Lewis, inked the loan agreement at the Wales construction site of the project, where the contractor, Lindsayca CH4 Guyana Inc. (LNDCH4 Guyana) – a US joint venture Texas-based Lindsayca and CH4 Systems, a Puerto Rican small business, has advanced works.
At the signing ceremony last week, US EXIM Bank President stated that this half of a billion-dollar energy deal is just the first of many deals to come between the financial institution and Guyana including its private sector.
“I have a message for the business leaders here in Guyana. We can be at US EXIM, a major resource for you – whether your business is large, medium or small. When you need American goods and service, EXIM is there to help you with that financing as well as [for] any foreign buyer who wants to purchase American goods and services, and export them to Guyana or throughout the region,” Chair Lewis posited.
Similarly, Minister Singh encouraged Guyanese businesses to take advantage of the roughly US$1.5 billion in financing that is available at the EXIM Bank.
“We want to see much more business done with EXIM. We want big, medium and small-sized projects… There is still another US$1.5 billion of potential business to be done with Guyana, and we’re looking forward to taking up all of that room… And I want to encourage of Guyana’s private sector to avail themselves of the various tools and instruments and products that are offered by EXIM to private sectors around the world to do business with American companies,” the finance minister stated during Friday’s signing.
Dr Singh subsequently pointed out that any Guyanese company that is buying goods from an American manufacturer or supplier, and/or service provider is a potential client of the EXIM Bank and should consider applying to the US financial institution for funding.
“A lot of people in the private sector might assume that EXIM does business with governments and not with the private sector so it’s important they are introduced to EXIM, that they know who are the key people working on the private sector transactions so they can speak directly to them and we encourage anybody in the private sector engage with EXIM directly,” the minister related to this publication.
In fact, the US EXIM Bank chair and her team met with stakeholders from the Guyanese private sector on Saturday at the Marriott Hotel in Georgetown.

Meeting local private sector
President of the Georgetown Chamber of Commerce and Industry (GCCI), Kester Hutson, told Guyana Times on Sunday that during the meeting, the EXIM Bank officials indicated their interest in doing more business within the region and is focusing on helping small and medium-size enterprises (SMEs) that usually face difficulties in accessing financing.
“We were pleasantly surprised and anxious to know more about what their strategies are to cater for SMEs. So, they have assigned a department that would be pretty much liaising with the local private sector and which will provide some guidance as to how we can be compliant and what are benefits. It was more of an introductory meeting – nothing in depth. Just [for us] to know that they are interested in working in the region and focusing on SMEs so it’s not just the enterprises and government agencies,” Hutson stated.
He further indicated that a strategic meeting scheduled to take place with the EXIM Bank team in the near future. (Vahnu Manikchand)