Guyana, Saudi Arabia agree to deepen cooperation in energy, food & infrastructure

– implementation mechanism established to advance talks

President Dr. Irfaan Ali is presently in Saudi Arabia for the 9th Edition of the Future Investment Initiative (FII9), which will see world leaders gathering to forge the key to global prosperity, unlocking new solutions and pathways forward.
The pinnacle of the three-day event will also feature the assembly of global investors and pioneering minds that translate thoughtful debate and long-term vision into collaborative actions.

On this note, the Guyanese leader is leaving no stone unturned and is moving swiftly ahead to hold talks with influential leaders. On Monday, he met with His Royal Highness Crown Prince Mohammed bin Salman Al Saud to discuss strengthening Guyana’s partnership in several sectors, including biodiversity, energy, food, sports, and infrastructure.
Following the discussion, an implementation and follow-up mechanism was agreed to be established between the two nations.
President Ali’s last visit to Saudi Arabia was back in 2023 for the inaugural Caricom-Saudi Arabia Summit, which ran from November 16 to 19.
However, the Guyanese Head of State has met with several high-profile Saudi leaders over the years to forge bilaterial partnerships. Back in September 2021, the Guyanese Head of State met with His Highness Prince Faisal bin Farhan Al Saud on the sidelines of the United Nations General Assembly in New York City.
During that engagement, the two countries discussed partnership and collaboration in oil and gas, as well as issues relating to COP26 and the development of a nuanced approach to a decarbonized world.
In 2020, Guyana applied to the Saudi Arabia-based Islamic Development Bank (IsDB) seeking financial support for the Hinterland Electrification Programme and intends to use some of the proceeds to fund the construction and rehabilitation of two small hydropower plants at Lethem, Region Nine. These are a 1.5-megawatt (MW) plant at Kumu and a 0.7 MW plant at Moco Moco.
The IsDB is one of Guyana’s newest development partners; Guyana joined in 2016. Its goodwill was demonstrated when the bank offered Guyana a US$900 million package for mainly infrastructural development works in the period 2018-2020.
In addition, President Ali met virtually with IsDB President Dr. Bandar Hajjar in June 2020, during which they discussed plans for rebuilding in the aftermath of the countrywide floods.
However, in September last year, Saudi Arabian Minister of State for Foreign Affairs and Climate Envoy Adel Al Jubeir and a team visited Guyana and met with President Irfaan Ali. During the meeting, President Ali shared his vision for Guyana and discussed investment opportunities in the country, infrastructural development, renewable energy, agriculture, the oil and gas sector, and economic cooperation.
Vice President Bharrat Jagdeo and Foreign Affairs and International Cooperation Minister Hugh Todd joined the President at the meeting.
Meanwhile, only recently, the Arabian Drilling Company of Saudi Arabia was awarded the second deep-water block-D1-following the oil block auction. Guyana established formal diplomatic relations with the Kingdom of Saudi Arabia on February 22, 2012.