Guyana and India inks $US4M agreement

  • Guyana and India inks $US4M agreement

Ministry of Finance

Date:2017-02-22

 

Press Release

Guyana and India ink Agreement for the Acquisition of High Capacity fixed and mobile drainage and irrigation pumps; communities in Regions 2,3,4,5 and 6 can expect less flooding

 

Residents in Hampton Court and Devonshire Castle in Region 2, Den Amstel in Region 3, Hope and Nooten Zuil in Region 4, Mora Point in Region 5 and Rose Hall in Region 6 will soon benefit from the placement of eight fixed pumps within their communities which will help to restrict flooding in their communities.

Meanwhile, five mobile pumps will provide drainage services to Georgetown and its environs including La Penitence South, Cummings Canal, Church Street, Sussex Street and South Ruimveldt.  These mobile drainage pumps will be assigned to various locations close to existing sluices in the city and its surrounding areas and will also be deployed to other areas to alleviate flooding, whenever necessary.

This relief to the communities is made possible through a loan agreement signed today Wednesday, February 22, 2017 between the Government of the Cooperative Republic of Guyana and the Export-Import Bank of India in Washington, D.C.

The Dollar Credit Line Agreement valued at US$4,000,000 will allow Guyana to benefit from the procurement and installation of eight (8) fixed high-capacity and (5) mobile drainage and irrigation pumps, associated spares and institutional strengthening related to the use and maintenance of the equipment.

More importantly, the acquisition of these pumps is expected to reduce the risks of flooding in low-lying areas and will bring relief to residents and farmers whose economic activities are usually disrupted by flooding caused by intensive rainfall and overtopping of the sea.

It will provide flood relief to approximately 25,000 acres of agricultural and residential lands. 

 

Signing on behalf of Guyana was Minister of Finance, Hon. Winston Jordan while Mr. Sailesh Prasad, Resident Representative signed on behalf of the Export-Import Bank of India.

The signing of this Agreement is yet another gesture of the support from the Government and the people of India to assist the Government of the Cooperative Republic of Guyana to achieve its socio-economic development goals.    

 

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