The true cost of the new Wismar Mackenzie Bridge

Dear Editor,       

I have two questions for Minister Edghill on IsDB for the new Wismar Mackenzie Bridge, extension date from 2022 and the cost for new bridge.  SN May 29, 2023, “Public Works Minister Juan Edghill told Stabroek News last week that they are looking at having the new piece of infrastructure built from the loan. His response stemmed from this newspaper’s enquiry regarding the increase of the loan from US$120 million to US$200 million”

The APNU-AFC gov’t had requested $12O Million for Soesdyke Linden Highway and the PPP/C requested the increase to USD $200 Million to include the new Wismar Mackenzie Bridge, which means the Bridge will be USD $80 Million. Former Senior Minister of Finance, and First Alternate Governor, Winston Jordan, said today May 29, 2023. “This story is pure rigmarole. The Wismar bridge project was the only project that had a design completed. OFID (OPEC Fund for International Development) had guaranteed us financing for the project. In fact, during the early COVID phase, OFID was prepared to loan us USD$$20M at a time when the World Bank and other donors were not responding to our requests, presumably because of the elections situation. So, it is ridiculous to hear Jagdeo saying that the bridge is now being designed. What is not being said, too, is that the $200 million loan is coming from the very same $900 million that we had secured, and which was the subject of criticism by Jagdeo. Short memories.”                                                                                           

DPI, August 16, 2022, President Ali hosted a virtual meeting and “Their first engagement virtually with IsDB, in which they requested extension to define new priorities for use of the resources.” APNU-AFC had secured USD $900M for Credit and Grant 2018-2022. What is the extension period secured by PPP/C from USD$900M for 2018-2022? Therefore, the cost of the new Wismar Bridge will be $80 Million ($200M less $120M). Why? When?

Sincerely,

Dr. Shamir Ally

Former FIRST Alternate Governor,

Islamic Development Bank

Former SECOND Ambassador to

Kuwait