India to help in Guyana’s development
Guyana Chronicle
January 17, 2007

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INDIA is interested in assisting Guyana with its developmental thrust through the provision of funding from its Export Import Bank, the Government Information Agency (GINA) reported last night.

It said President Bharrat Jagdeo yesterday met Indian High Commissioner Avinash Gupta and Chief General Manager, Prabhakar Dalal and Resident Representative Tarun Sharma of the Export Import Bank of India (EXIM) to pave the way forward for specific developmental projects that could be funded by the bank.

“It’s to find more avenues by which India can be a trusted friend in the economic development of the country. So with this in mind we have been meeting with the political leadership of Guyana which includes the President, the Prime Minister and Ministers Ashni Singh and Robeson Benn,” Mr. Gupta told the agency.

GINA said he indicated that during the Indian Vice-President’s visit to Guyana in early November 2006, it was established that EXIM Bank could play a critical role in the economic development of the country.

“The EXIM Bank of India is interested in providing funding support for developmental projects in Guyana in a variety of sectors. We have already provided funding support for the (cricket) stadium construction. We are assessing a variety of projects that can be conceived, developed and funded by us,” Dalal said.

A US$19M line of credit was extended by the EXIM bank to Guyana to construct the National Stadium at Providence, East Bank Demerara where the Super Eight matches of Cricket World Cup 2007, will be played.