Two planes for GDF under US$23.27m credit from India EXIM Bank
Two planes will be acquired for the Guyana Defence Force (GDF) under an India EXIM Bank credit as the government here moves to enhance the country’s defence capability.
Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr Ashni Singh yesterday on behalf of the Government of Guyana, signed a Line of Credit (LOC) Agreement of US$23.27 million, with the Export-Import Bank of India (EXIM Bank), for the procurement of two aircraft. Signing on behalf of the Indian EXIM Bank was its Deputy General Manager - Line of Credit Group, Sanjay Lamba.
A release from the Ministry of Finance said this agreement had its genesis in President Irfaan Ali’s visit to India’s state-owned aerospace and defence company - Hindustan Aeronautics Limited, in January 2023.
High Commissioner of India to Guyana, Dr Amit Telang, during remarks, said that India attaches great importance to the relationship it shares with Guyana, and the signing of the LOC is just another means of cementing its partnership with Guyana. He pointed out that yesterday’s Agreement is the first ever defence LOC signed with the Caribbean.
Singh, while delivering remarks, placed on record Government’s appreciation of India’s support to Guyana. Singh also recognised the EXIM Bank’s instrumental role in facilitating the presence of Indian companies in Guyana, thereby allowing for the expansion of productive capacity in various sectors of the country. Guyana to date, has sealed eleven LOCs with the Indian EXIM Bank over the years.
Singh added, “we want to see more Indian companies doing business in Guyana, we are open to companies from around the world, including
of course India, and India is amongst the economies that are at the cutting edge of technology, and we want to receive the benefit of that cutting edge technology.”
Singh added that the government is investing heavily in strengthening the capabilities of the GDF, in particular, in some of its specialised wings, such as the Air Corps and the Coast Guard. He further stated that the purchase of the two aircraft is part of the biggest ever investment in the capitalisation of the force thus far.
Singh thanked Lamba and team for the bank’s efforts in concluding the LOC. Lamba, who is visiting for the first time, during his remarks said that working with the Government of Guyana has been very satisfactory.
Chief of Staff of the GDF, Brigadier Omar Khan, while speaking on behalf of the defence sector, recognised the role that the Government of India has played in defence training over decades in Guyana and noted that yesterday’s signing is in keeping with President Ali’s vision of a strengthened security sector that will help to maintain the peace and prosperity for One Guyana.