India will grant a Line of Credit (LoC) of US$50 million to Guyana for the East Bank Demerara-East Coast Road Link Project, as well as US$8 million to assist in the acquisition of an ocean ferry vessel, the Government Information Agency (GINA) reported yesterday.
India’s Prime Minister Narendra Modi informed President Donald Ramotar of the loan during bilateral discussions yesterday, GINA reported. Ramotar is on a six-day official visit to India during which it is expected that he will be among 15 Non-Residential Indians (NRIs), who will be given the Pravasi Bharatiya Samman Award.
Prime Minister Modi expressed his appreciation that the President had accepted the invitation to participate in the Pravasi Bharatiya Divas event despite his heavy domestic schedule, GINA said.
The Deccan Herald reported that Ministry of External Affairs official spokesperson Syed Akbaruddin said Modi pledged the LoC after Ramotar sought New Delhi’s assistance for Guyana’s East Bank/East Coast road and Ocean Ferry projects. Modi also told Ramotar that New Delhi would extend the visa-on-arrival facility to citizens of Guyana,
