European Investment Bank looking to finance new projects in Guyana

A European Investment Bank (EIB) delegation, led by the EIB Vice President responsible for lending activity in the Caribbean, will visit Guyana from September 15-17, to explore opportunities for financing new projects in the country.

In his first visit to the country, EIB Vice President, Pim van Ballekom and colleagues will discuss financing opportunities with senior government officials, private sector investors and project promoters with a view to providing loans to projects in the coming months.

The visit follows meetings in Suriname, where further discussions have taken place with Surinamese officials.

The European Investment Bank has supported investment essential for private and public sector growth in Guyana and across the Caribbean.

The EIB Vice President said: “We are looking forward to discussions about future support in particular for projects in both in the public and private sectors in Guyana. With our diverse sector experience supporting projects across the world, we can bring technical and practical expertise to this region. We have already been in contact with the Guyanese government concerning projects in the renewable energy, transport and private sector development sectors and hope that our visit would help to kick-start further investments in Guyana soon.”

Speaking on the EIB’s visit Head of the EU Delegation in Guyana Ambasador Jernej Videtič said: “The EU Delegation in Guyana is delighted to welcome this important delegation from the European Investment Bank. Investment and financing opportunities will doubtless be most welcome, both in private sector development and in light of Guyana’s Green Development Strategy. This is an opportune time for Guyana to diversify its economy and prepare for the future. The EIB support would complement existing EU cooperation with Guyana and help deepen the long-standing political and economic ties between Guyana and the EU.”

The EIB is the largest multilateral public bank in the world and 10% of its lending targets investments outside of the European Union. It is owned directly by the 28 European Union member states.

The European Investment Bank has supported the development and economic activity in the Caribbean with loans and equity investment worth EUR 1.6 bn. In Guyana, the EIB has provided a total of EUR 26m to projects in the forestry, mining, water, and private sector development (SMEs) sectors.