The private sector arm of the Inter-American Development Bank (IDB) yesterday sealed an agreement to provide US$25m to Unicomer – parent company of COURTS – for a commercial complex at Farm on the East Bank of Demerara.
Senior Minister in the Office of the President with Responsibility for Finance and the Public Sector, Dr. Ashni Singh yesterday oversaw the signing of an agreement between IDB-Invest and Redstart Guyana. The signing took place at the Ministry of Finance. The agreement is to the tune of US$25 million and will allow for Redstart Guyana’s construction of a commercial complex at Farm.
A press release from the Ministry of Finance said Dr. Singh congratulated the IDB Group and Unicomer for their partnership, noting that it sends a very clear signal to the rest of the private sector operating in Guyana that financing raised through IDB-Invest is a very viable and doable prospect. According to the statement, the finance minister noted that from 2020 to date, the value of financing approvals by IDB-Invest for development projects in the country’s private sector totaled US$173 million.
