New Delhi [India], November 6 (ANI): Guyana’s High Commissioner to India Dharamkumar Seeraj, on Friday, highlighted how India extending a USD 500 million Line of Credit will accelerate his country’s development goals and transform its digital landscape, describing it as a "major milestone" as he expressed gratitude for such financial assistance.
High Commissioner Seeraj called the facility a vital instrument for accelerating the country's national growth.
"We take this as a present from the Government of India to the Government and people of Guyana," High Commissioner Seeraj told ANI, adding that "The 500 million US dollars is going to go a long way towards advancing our ambition to really improve our digital infrastructure and also get our small and medium enterprises going."
Highlighting the vast experience of India, the High Commissioner said that there is a lot to learn from India, with the financial assistance also helping achieve their stated targets faster than expected.
"India has a lot of experiences that we can benefit from. Our people have more or less a similar history. I'm highly confident that the success story of India can be translated easily into Guyana, with India's support and, of course, with the financing that will be made available through this line of credit we'll be able to achieve our targets in a faster time," he said.
Highlighting the growing bilateral collaboration in technology, High Commissioner Seeraj also praised the initiative to introduce a Unified Payments Interface (UPI)-like system in Guyana as part of wider cooperation on Digital Public Infrastructure.
"I don't think our country can develop at the rate we want it to develop without a unified payment interface," Seeraj noted, adding, "It's a fantastic platform on which to transact business. It will provide a tremendous impetus to doing business in Guyana. I think it's a game changer."
The development cooperation comes as both nations continue to deepen ties in key sectors, including infrastructure, manufacturing, and digital innovation.
Earlier on Thursday, External Affairs Minister S Jaishankar detailed the decision to extend a $500 million Line of Credit to the Caribbean nation on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM).
Speaking following bilateral discussions with Guyanese President Irfaan Ali, Jaishankar underscored that the financial package will cover critical projects across roads, healthcare, and defence sectors.
"I am very pleased to share that, following discussions between our two governments, India has decided to extend a Line of Credit of US$500 million to Guyana," Jaishankar said in a video shared on X. "This will cover projects in the sectors of roads, health and defence. We look forward to developing projects under this Line of Credit."
Jaishankar noted that the two leaders also signed three agreements, starting with India's UPI digital payment mechanism, another concerning Quick Impact Projects and a third relating to small and medium enterprises.
"It is a great honour for me to sign three agreements today with President Irfaan Ali," Jaishankar stated, outlining the newly signed pacts.
"The first is on UPI, our digital payment mechanism. The second concerns Quick Impact Projects, which focus on community-relevant development initiatives. The third relates to small and medium enterprises, aimed at strengthening their capacity to further promote local employment," he added.
Reflecting on the impact of ongoing high-level engagement, Jaishankar added, "I believe that the meeting and his discussions with you have significantly transformed the level and intensity of our engagement, not just with Guyana but with the entire region."
Welcoming the announcement and the signing of the pacts, President Irfaan Ali expressed gratitude to Prime Minister Modi and the Government of India for the strong bilateral relationship being built.
President Ali expressed strong support for the new investment phase, stating, "Today, I am very pleased that we can sign these three important agreements and also conclude our discussions on the next phase of investment by India into Guyana. The 500 million dollars line of credit will cover transformative infrastructure, including roads, which would lead to the opening up of thousands of new homes and house lots, main highways, defence, which is important for defence and security, and, of course, health." (ANI)
India's USD 500 mn Line of Credit to boost digital infra, help small industries: Guyana envoy Dharamkumar Seeraj
