Georgetown: Guyana and India Wednesday signed a US$18 million deal to procure a new ferry to ply the Georgetown to North-West route in what would be welcome news for those who described the journey on the current vessel as treacherous and the service unreliable. The signing of the agreement took place on Wednesday at the Ministry of Finance in Georgetown in the presence of India’s High Commission to Guyana Venkatachalam Mahalingam, representatives of the Export-Import Bank of India and senior officials of the Ministry of Finance.
The USD$18M comprises a USD$8M grant and USD$10M concessionary loan to be repaid within 20 years with a five-year grace period.
Minister of Finance Winston Jordan, during the simple event, said the Indian funding will assist the government with providing reliable ferry service to the residents of Region One.
The Finance Minister noted that the acquisition of the new vessel will ensure that the range of social and economic benefits is maximised.
“Passengers and goods will now be moved at affordable prices in a safe, secure and reliable environment. This new ferry vessel will increase efficiency and operations by allowing passengers and freight to be conveyed more swiftly with fewer delays and reduction in travel time,” Jordan stated.
The Finance Minister said too that the acquisition of the vessel will allow for greater market access and will spur increased production, distribution and consumption of goods. This in turn will contribute to the growth and development of the country.
“The signing of this agreement is yet another tangible gesture of the Government of India’s support for Guyana’s social and economic development.”
Jordan explained that India had promised to provide assistance with the procurement of a new vessel under the Donald Ramotar-led administration and Wednesday’s signing represents the formalisation of that promise.
“President Ramotar went to India and was promised assistance to replace the old [ferries] ones that we had,” he explained.
Minister of Public Infrastructure David Patterson expressed gratitude to India for the grant and concessionary loan. He said the Transport and Harbours Department of his ministry has been experiencing much difficulty given the constant repairs of existing ferries.
Patterson made it clear that the vessels are “aging,” making specific reference to those that ply Region One and noting that residents of that district depend heavily on the vessels to transact their business.
“This vessel – MV Kimbia is down, awaiting repairs; the only vessel plying that route is the lady Northcote[and] because of that unfortunately, the vessel can only get to Kumaka, or Port Kaituma once every two or three weeks,” Patterson explained.
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