US EXIM Bank Grants Final Approval for $526 M Gas to Energy Loan to Guyana

Today at noon, His Excellency the President Mohammed Irfaan Ali received a telephone call from the President and Chair of the United States Export-Import (EXIM) Bank, Ms. Reta Jo Lewis. 

The EXIM Chair informed President Ali that the Board of EXIM has approved the loan for the Gas-to-Energy (GtE) Project valued at over $526 million at their Board Meeting held earlier today having completed the thirty-five day congressional notice period. 

The GtE Project is slated to deliver 300MW of Power to the grid when completed, expanding the supply of electricity, cutting the carbon footprint per kilowatt hour, and reducing energy costs to consumers by 50 percent. 

His Excellency expressed to Chairman Lewis and the EXIM Bank as well as all other US Government agencies and authorities involved, including Ambassador Theriot and her team at the US Embassy in Guyana, the Government’s strong appreciation and thanks for the approval granted and for the confidence shown in this GtE project and in Guyana. 

President Ali also commended the Guyana team at the Office of the President, Ministry of Finance, Ministry of Natural Resources, and the Guyana Embassy in Washington DC, whose work helped secure this important outcome for our country.