Former First Alternate Governor of the Islamic Development Bank (IsDB), Professor Dr. Shamir Ally, in an Open Letter to Minister of Public Works, Mr. Juan Edghill, is calling on him to provide answers about the loan from the IsDB for the new Wismar McKenzie Bridge. According to the professor, the minister’s comments last week in another newspaper that the government is looking at having a new piece of infrastructure built from the loan is pure rigmarole.
Ally, who is a columnist in this newspaper, made known the “APNU-AFC requested US$12O Million for Soesdyke Linden Highway and PPPC requested the increase to US$200 Million to include NEW Wismar Mackenzie Bridge, which means the Bridge will be US$80 Million.”
The professor pointed out what the People’s Progressive Party Civic (PPP/C) government is silent that the US$200 million loan is coming from the very same US$900 million that the A Partnership Of National Unity and Alliance For Change (APNU+AFC) had secured which then Opposition Leader Mr. Bharrat Jagdeo had criticised.
To this end Ally has posed two questions to the minister: 1) What is the extension period secured by PPPC from US$900 Million for 2018-2022; and 2) why the cost of the new Wismar Bridge will be US $80 Million (US$200M less US$120M).
During 2017-2020 Ally was the First Alternate Governor of the IsBD and would have played a major role in Guyana accessing the loan.
The full letter follows:
Open Letter
2 Questions for Hon. Minister Edghill on IsDB for the new Wismar McKenzie Bridge, extension date from 2022? and cost for NEW Wismar Bridge?
SN May 29, 2023 “Public Works Minister Juan Edghill told Stabroek News last week that they are looking at having the new piece of infrastructure built from the loan. His response stemmed from this newspaper’s enquiry regarding the increase of the loan from US$120 million to US$200 million” “ Public Works Minister Juan Edghill told Stabroek News last week that they are looking at having the new piece of infrastructure built from the loan. His response stemmed from this newspaper’s enquiry regarding the increase of the loan from US$120 million to US$200 million”
APNU-AFC requested $12O Million for Soesdyke Linden Highway and PPPC requested the increase to USD $200 Million to include NEW Wismar Mackenzie Bridge, which means the Bridge will be USD $80 Million.
Senior Minister of Finance, and First Alternate Governor said, today May 29, 2023. “ This story is pure rigmarole. The Wismar bridge project was the only project that had a design completed. OFID (OPEC Fund for International Development) had guaranteed us financing for the project. In fact, during the early COVID phase, OFID was prepared to loan us $20 million at a time when the World Bank and other donors were not responding to our requests, presumably because of the Elections situation. So, it is ridiculous to hear Jagdeo saying that the bridge is now being designed. What is not being said, too, is that the $200 million loan is coming from the very same $900 million that we had secured, and which was the subject of criticism by Jagdeo. Short memories.”
Two Questions for Hon. Minister Edghill on IsDB Loan for NEW Wismar Mackenzie Bridge:
DPI, August 16, 2022, President Ali hosted a virtual meeting and “ Their first engagement virtually with IsDB, in which they requested extension to define new priorities for use of the resources. It was reported in the press.”
APNU-AFC secured USD $900: Million for Credit and Grant 2018-2022.
What is the extension period secured by PPPC from USD $900 Million for 2018-2022 ?
KN, October 13, 2022 IsDB Clears USD $120: Million for upgrade of Linden Highway.”
Therefore, the cost of the NEW Wismar Bridge will be $80 Million ( $200M less $120M).
Why, ? when , as per Past Senior Minister of Finance, Hon. Winston Jordan “ OFID (OPEC Fund for International Development) had guaranteed us financing for the project. In fact, during the early COVID phase, OFID was prepared to loan us $20 million at a time when the World Bank and other donors were not responding to our requests, presumably because of the Elections situation.”
Assuring You of my Highest Consideration
Sincerely,
Dr. Shamir Ally
Former FIRST Alternate Governor, Islamic Development Bank
Former SECOND Ambassador to Kuwait
References
https://dpi.gov.gy/head-of-state-meets-with-president-of-islamic-development-bank/
https://www.inewsguyana.com/guyana-receives-us900m-from-islamic-development-bank/
