- October 26, 2018
- Posted by: Admin
- Category: News
Concessional Loan Agreement with China EXIM Bank Signed
Friday October 26 was D-day for MoPT and the National Broadband (Expansion) Project that has been germinating for approximately two years. Minister Cathy Hughes joined Finance Minister Winston Jordan and Chinese Ambassador Cui Jianchen to sign the Concessional Loan Agreement with the China EXIM Bank to start the project rolling.
Overall, the project has three major goalposts:-
- It is the first major project in the Government’s Green State initiative
- It is one vehicle by which many of Government’s commitments to the nation will be fulfilled
- It will bridge the information accessibility gap between the Hinterland and Coastland
Ambassador Jianchen gave a ringing endorsement for this Broadband expansion project, reiterating that ICT is indeed the currency of the future.
Minister Hughes laid out the chief project deliverables which she said will begin to become tangible in 2019. They are:
- A new Data Center with additions to the ICT tower network
- Implementation of the modules for the Smart City Broadband project that involves: 1. Education – smart classrooms that connect students in the hinterland with classes & materials in Georgetown and farther afield; 2. Law Enforcement databases available to officers working in the fields, etc.
- Availability of Government services e.g. from the NIS and GRA, to hinterland communities
- A Modern network to bring advanced health services to Guyanese, e.g. telemedicine
- Capacity to secure national data and the tools to improve Government’s transparency and accountability to the people
- Provision of funding to strengthen Guyana’s capacity to train our people to implement these programmes and stay abreast with advancing technologies
The project also has a strong Training component for law enforcement officers, students (STEM, Coding, Programming) etc.
This Concessional Loan Agreement is repayable over 20 years at two percent interest with a five-year grace period.
“Guyana has many infrastructural needs that are greater than the resources we have which is why we must borrow,” Minister Jordan said, citing the project to widen the East Coast Demerara public road as an example.
It also has capacity for a subterranean/subsea data cable that will enhance the performance of the commercial sector.
THIS PROJECT IS BUILDING ON THE ICT FACILITIES AND INFRASTUCTURE GUYANA ALREADY HAS and will be executed by Huawei Technologies Co. Ltd.