Guyana and India yesterday inked a US$50M loan agreement that could see commuters using a new road to traverse between the East Coast Demerara (ECD) and East Bank Demerara (EBD) by the end of 2018.
The road would bypass Georgetown which has suffered from increasing traffic congestion over the years. It will run between Ogle on the ECD to Diamond on the EBD. The road is expected to have four lanes with two of the lanes fully paved.
Last year January, it was announced that New Delhi would 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. The announcement was made during then President Donald Ramotar’s six-day official visit to India.
At the signing ceremony yesterday, Minister of Public Infrastructure David Patterson pointed out that the project was a long-awaited one and can positively impact different sectors.
