On Mon­day, Guyana signed two agree­ments to­talling US$150 mil­lion with the Caribbean Com­mu­ni­ty (CARI­COM) coun­try in­di­cat­ing that the funds would be used for a hous­ing project as well as al­low­ing for up­grades to the Wis­mar Bridge in Lin­den, Re­gion 10.

Guyana be­came the 88th coun­try to re­ceive fund­ing from the Sau­di Fund for De­vel­op­ment and fol­lows a Mem­o­ran­dum of Un­der­stand­ing (MoU) signed on the side­lines of the 2023 Is­lam­ic De­vel­op­ment Bank (Is­DB) Group’s An­nu­al Meet­ings in Sau­di Ara­bia.

The agree­ment was signed by Fi­nance Min­is­ter Dr Ash­ni Singh and the chief ex­ec­u­tive of­fi­cer of the Sau­di Fund for De­vel­op­ment, Sul­tan Al-Mar­shad, in the pres­ence of Pres­i­dent Ir­faan Ali, who un­der­scored the im­por­tance of up­grad­ing the decades-old sin­gle-lane Wis­mar Bridge in­to a four-lane bridge.

“I am very pleased to be able to ad­vance these projects at such a rapid pace,” Ali said.

The first loan of US$100 mil­lion will be used to con­struct more than 2, 000 hous­ing units in three re­gions.

The vis­it­ing del­e­ga­tion is on a three-day vis­it to Guyana.

GEORGE­TOWN, Guyana, CMC –