India Extends $500 Million Credit Line to Guyana for Roads, Healthcare and Defence Projects

India has extended a $500 million line of credit to Guyana to support infrastructure development, healthcare and defence projects, signalling a further expansion of economic and strategic ties between the two countries.

The announcement was made by External Affairs Minister S Jaishankar following his meeting with Guyanese President Irfaan Ali on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM) in St John’s, Antigua and Barbuda, on Wednesday.

Jaishankar said the two leaders reviewed the progress of bilateral cooperation, particularly following Prime Minister Narendra Modi’s visit to Guyana in 2024, which marked an important step in strengthening relations.

The discussions also resulted in several agreements covering manufacturing, development assistance and digital cooperation. India and Guyana signed agreements for the supply and installation of Micro and Small Enterprises (MSE) manufacturing projects, along with grant assistance for implementing Quick Impact Projects.

The two sides also agreed to strengthen cooperation in Digital Public Infrastructure (DPI), including the development of a UPI-like digital payment system in Guyana. The initiative is expected to support the expansion of digital financial services and improve payment infrastructure in the South American country.

The latest announcement builds on India’s broader engagement with Guyana, particularly in development cooperation, infrastructure and technology.

Earlier, Jaishankar attended a breakfast meeting with Commonwealth heads of government and business leaders, where he called on member countries to de-risk and diversify their economic partnerships amid changing global circumstances.