PSC lauds US$526M EXIM Bank loan for Guyana’s GtE Project

The Private Sector Commission (PSC) has praised the United States (US) Export-Import Bank (EXIM) for approving the US$526 million loan to advance Guyana’s Gas to Energy (GtE) Project.
The project includes constructing a natural gas separation plant, a 300 Megawatt (MW) combined-cycle gas turbine power plant, and a gas supply pipeline. Once completed, it is projected to double Guyana’s installed electric capacity, significantly cut carbon emissions, and bolster economic activity by creating jobs and expanding infrastructure.
In a statement on Friday, the PSC highlighted the collaborative efforts between the US, ExxonMobil, and joint venture partners Lindsayca and CH4 Systems. This partnership leverages advanced technology and expertise, positioning Guyana as a leader in energy security and economic diversification within the region.
Chairman of the PSC, Komal Singh, underscored the importance of this investment, stating, “The Private Sector Commission acknowledges the US EXIM Bank’s commitment to advancing energy solutions that align with Guyana’s development agenda. We believe this project will serve as a cornerstone for sustainable economic growth and support the aspirations of our people.”

The PSC also commended the US Embassy in Guyana for its instrumental role in fostering bilateral partnerships and securing investments critical to Guyana’s sustainable development. The Embassy’s ongoing support has been key to aligning international collaborations with the nation’s growth priorities.
The PSC reaffirmed its commitment to advocating for initiatives that drive innovation, sustainability, and a stronger private sector role in national development.
In a statement on Boxing Day, the Government announced that President Dr Irfaan Ali received a telephone call from the President and Chair of the US EXIM Bank, Reta Jo Lewis to inform him that the Board of EXIM has approved the loan for the Gas-to-Energy (GtE) Project valued at over US$526 million at their Board Meeting held earlier in the day having completed the thirty-five-day congressional notice period.
In the statement it noted that President Ali expressed to Chairman Lewis and the EXIM Bank as well as all other US Government agencies and authorities involved, including Ambassador Theriot and her team at the US Embassy in Guyana, the Government’s strong appreciation and thanks for the approval granted and for the confidence shown in this GtE Project and in Guyana.
Shortly afterwards, US Ambassador to Guyana, Nicole Theriot in a social media post on the Embassy’s page in Georgetown said that it is a historic moment for Guyana and the US.
“I am thrilled that the Board has approved the financing for this groundbreaking project.” She added, “By working with US companies, Guyana will benefit from a first-in-class power plant where quality and safety are at the forefront. We look forward to even more transformational projects where US and Guyanese companies can partner for the benefit of the Guyanese people,” the post read.