Includes how major projects are financed and gives examples where relevant. Explains activities of the multilateral development banks in and other aid-funded projects where procurement is open to U.S. bidders.
Last Published: 7/9/2019

Guyana's Foreign Exchange Act requires special approval for local financing.  Foreign borrowers applying for a loan of over USD 10,000 (approximately GYD two million) must request permission from the Minister of Finance to take out the loan locally.  This requirement reflects Guyana’s preference for foreign investors to bring capital into the country.  In practice, foreign investors typically seek credit abroad to avoid Guyana’s high interest rates.  The average prime lending rate for Guyanese commercial banks at the end of December 2018 was 11.96 percent.

International and multilateral financial institutions fund most large public and government projects.  The Inter-American Development Bank (IDB) is the main and largest multilateral creditor to the Government of Guyana, primarily in infrastructure rehabilitation and expansion.  The United States, the United Kingdom, Canada, and the European Union all maintain bilateral aid programs with Guyana.  The World Bank recently announced a USD 20 million project which aims to strengthen the legal and institutional frameworks governing oil and gas and build the capacity of key institutions for transparent and effective management of the sector in Guyana.

U.S. Commercial Service Liaison Offices at the Multilateral Development Banks (Inter-American Development Bank, World Bank)

The U.S. Commercial Service maintains Commercial Liaison Offices in each of the main Multilateral Development Banks, including the Inter-American Development Bank and the World Bank.  These institutions lend billions of dollars in developing countries on projects aimed at accelerating economic growth and social development by reducing poverty and inequality, improving health and education, and advancing infrastructure development.  The Commercial Liaison Offices help U.S. businesses learn how to get involved in bank-funded projects and advocate on behalf of U.S. bidders.  Learn more by contacting the Commercial Liaison Offices at the Inter-American Development Bank and the World Bank.


Web Resources
Commercial Liaison Office to the Inter-American Development Bank
Commercial Liaison Office to the World Bank

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