Guyana, IDB Sign Loan Agreement

By: - September 24th, 2011

Above: President Bharrat Jagdeo and IDB President Luis Alberto Moreno

By the Caribbean Journal staff

Guyanese President Bharrat Jagdeo and Finance Minister Ashni Singh met yesterday with the President of the Innter-American Development Bank, Luis Alberto Moreno, at the bank’s headquarters in Washington, DC.

Jagdeo was joined by Finance Minister Ashni Singh.

Following the meeting, Guyana and the IDB officially signed a $5 million loan agreement aimed at improving the operation of Guyana’s electricity sector.

The project intends to improve the country’s power system by enhancing electricity loss reduction measures and improvements in distribution.

The IDB has already contributed to the country’s electricity sector, with other initiatives like a $21.2 million Unserved Areas Electrification Programme, which looked to improve the electricity sector in the country’s rural areas.

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