By Josiah Williams
The Guyana Government has inked a significant deal with the Indian EXIM Bank to acquire two new aircraft for the Guyana Defence Force (GDF).
The Guyana Defence Force is set to bolster its capabilities with the procurement of two new aircraft financed through a Line of Credit (LOC) with the Indian EXIM Bank.
Finance Minister Dr. Ashni Singh expressed satisfaction with this investment, noting it as the largest into the GDF.
He emphasized the importance of collaboration and financing from India in enhancing Guyana’s defence capabilities.
Dr. Singh highlighted that the new aircraft will enhance the Army’s capacity to monitor Guyana’s exclusive economic zone and other interests.
The Finance Minister also mentioned that while the current line of credit from India is modest, it holds significant importance and anticipates its growth in the future.
Sanjay Lamba, Deputy General Manager of the Export-Import Bank of India, reassured that there have been no issues with repayment, with India allocating $142 million to Guyana thus far.
Indian High Commissioner Dr. Amit Telang commended the strong relationship between the two countries and expressed optimism for future collaborations.
He noted that this defence LOC is the first to be extended to Guyana and the Caribbean region.
Chief of Defence, Brigadier Omar Khan, highlighted India’s substantial role in enhancing the GDF’s capacity through training, joint exchanges, and financing.
India is also involved in financing other significant projects in Guyana, such as the East Coast to East Bank Demerara Road linkage and the 30,000 solar panel project.
This investment in military assets signifies a significant step forward for the Guyana Defence Force, enhancing its capabilities to safeguard Guyana’s interests.