The Government of Guyana is preparing to launch a diaspora bond designed to facilitate investment from overseas-based Guyanese in significant public infrastructure projects throughout the country. President Dr. Irfaan Ali made this announcement on Tuesday evening, emphasizing the initiative’s goal of leveraging the financial resources of the Guyanese diaspora while enhancing their involvement in the nation’s development.
President Ali stated, “I want to announce that the Government of Guyana will launch a special bond, a diaspora bond, to raise funds from the diaspora for investment in public infrastructure projects in Guyana. So, within one week, we’ll be launching the diaspora bond.” He encouraged members of the diaspora to contribute and participate in the ongoing transformation of the country.
This announcement follows the President’s recent comments during a discussion at the Baker Institute for Public Policy at Rice University in Houston, Texas, where he highlighted the need to create more investment opportunities for overseas Guyanese. He noted, “Our diaspora is in a special and unique position… But now I think [we have to look at] how do we unlock their financing? How do we create opportunities for their investments?”
The Government has already initiated efforts to attract both diaspora and local investments for several large-scale energy projects, particularly related to the Gas-to-Energy Phase Two development at Wales, West Bank Demerara. Earlier this month, preliminary Expressions of Interest (EoIs) were sought for the proposed US$300 million Guyana Ammonia and Urea Plant Inc. (GAUP) and the US$40 million Guyana Gas Bottling and Logistics Company Inc. (GGBLC).
Preference is being given to Guyanese investors, including those in the diaspora, to ensure that citizens benefit directly from major national projects. For the fertiliser plant, individual investments are limited to US$5 million, while investments in the gas bottling project are capped at US$1 million. Investors can expect a Government-backed annual return of 10 percent.
Additionally, President Ali has been promoting diaspora investment in Silica City, a planned smart and sustainable city along the Soesdyke-Linden Highway. During an engagement with Guyanese in Brampton, Ontario, Canada, he mentioned that a significant portion of the city’s development is aimed at overseas Guyanese looking to invest or own property in the country. He stated, “And we want at least 25 percent of this city to be dedicated to meeting the needs of the diaspora.”
Silica City, located near the Cheddi Jagan International Airport, is expected to include housing developments, healthcare facilities, sports tourism infrastructure, and other modern amenities. The Government has allocated approximately 3,800 acres of land for the project, with plans for around 15,000 houses over the next two decades. Construction is already underway on the first set of Young Professional homes as part of Phase One of the development.
Source: snn.gy
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