India writes off Guyana’s outstanding debt
President’s state visit ends with pledges to strengthen bilateral relations
Guyana Chronicle
August 31, 2003

Related Links: Articles on India
Letters Menu Archival Menu

President Jagdeo examines a rural technology unit at the Indian Institute for Science which will be supporting the Government in revamping and staffing the local Institute of Applied Science and Technology (IAST).
(GINA) - PRESIDENT Bharrat Jagdeo has ended a five-day State visit to India. At the end of the visit, a joint statement containing areas of agreement was issued.

According to the joint statement, three agreements were signed - a Cultural Exchange Programme, an Educational Exchange and an Agreement to waive an outstanding balance from the first credit line extended to Guyana in 1989.

As a measure of its commitment to further strengthen India/ Guyana bilateral relations, the Indian side has agreed to waive the balance of Rs. 28.78 million owed by Guyana to India in the agreement of the First Credit line of Rs. 100 million extended by Indian in 1989.

According to Information Liaison to the President, Mr. Robert Persaud, President Jagdeo, on behalf of the Guyana Government, thanked the Government of India for its support, not only for the waive of the debt payment, but for supporting Guyana’s ongoing effort to secure multilateral and bilateral debt relief.

The Cultural exchange Programme agreement was signed by Guyana’s Minister of Culture Youth and Sport, Gail Teixeira , who is part of the Guyana delegation, and India’s Minister of Human Resource Development, Dr. Murli Manohar Joshi.

The Educational Exchange Programme Agreement was signed by Guyana’s Minister of Foreign Trade and International cooperation, Clement Rohee, who is also with the President, and Dr. Joshi.

The other agreement for the waiver of Guyana’s debt was signed by India’s Minister of External Affairs Mr. Yahwant Sinha.

Witnessing the signing of the agreements were President Jagdeo and India’s Prime Minister Atal Behari Vajpayee.

Meanwhile, before departing for home, the President participated in a special religious ceremony held for him at the 300-year-old Maha Laxmi temple in Mumbai, in the State of Maharashtra.

The President was also the guest of honor at a reception hosted by the Governor of Maharastra Mohammad Fazal.

Monday’s bomb-blast in Mumbai did not affect the planned programme for the President’s visit to the State, other than a change from the Taj Mahal Hotel outside where one of the bomb blasts occurred, and where the President’s delegation was scheduled to stay.

At the end of the visit, both sides noted with satisfaction, the close relations which the two countries have shared and which is based on strong cultural and historical ties, marked by cordiality and a high degree of understanding as well as shared interest in current principal issues.

Guyana and India have both reiterated their decision to strengthen even further the bilateral and close ties between the two countries and peoples.

The President, on his return to Guyana, will report to the nation at a media briefing on the specific outcomes of the visit.

President Jagdeo’s delegation to India also included representatives of the private sector and labour and religious communities.