The Export-Import Bank of India (India Exim) has issued a US$10mn credit line to the Guyanese government for the purchase of a ferry.
The debt has been supplemented by an US$8mn grant from the Indian government. The ferry will transport both cargo and passengers and will traverse the route between Georgetown, the capital of Guyana, and the country’s northerly region.
It’s not the first loan India Exim has extended to Guyana. The export credit agency now holds US$88.38mn to the South American country, covering projects including the construction of a cricket stadium, traffic systems, road infrastructure and irrigation works.