Guyana signs US36M loan agreement with China to enhance national broadband

Finance Minister Winston Jordan signs the agreement as Minister of Public Telecommunications, Catherine Hughes, His Excellency Cui Jianchun, Chinese Ambassador to Guyana and members of his delegation look on at Ministry of Finance – Guyana.(DPI photo)The Government of Guyana, earlier today (Friday), signed a US$36M concessional loan agreement with the People’s Republic of China, an agreement expected to go towards technological advancement in Guyana.The loan agreement, which will finance Guyana’s National Broadband Project, has to be repaid in 20 years, with a 5-year grace period. The interest on the loan, finance Minister Winston Jordan explained, is 2 per cent.The areas the loan will go towards include: improving the technological capacity of the police force by outfitting police stations and police cars with Internet connectivity, education and e-medical services.Public Telecommunications Minister Cathy Hughes described it as a game changer for Guyana, with the project having an 18 month implementation period. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedGovt borrowing $4.2B from IsDB to plug into GPLSeptember 19, 2018In “Business”Opposition questions Govt’s ability to manage expanding debtOctober 1, 2018In “Business”2017 a year of loans: Govt intends to borrow billions to finance developmentDecember 23, 2016In “Business”

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