US EXIM Bank signs US$527 million loan agreement for Guyana project
The loan backs a project to double Guyana's installed electric capacity, and Stabroek News reported that the work is running late.
Guyana has signed a US$527 million agreement with US EXIM Bank, with a term sheet for the loan signed to support the project. Kaieteur News reported the signing in a piece published on 17 October 2026.
The Department of Public Information published its account on 10 January 2025. It said Dr. Singh and the bank's president signed the term sheet while at the site. A term sheet lists the main terms of a deal. The loan was approved on 26 December 2024.
The Export-Import Bank of the United States said its board approved the money for the Ministry of Finance. The money supports a gas-to-energy project. The project would double the country's installed electric capacity.
Kaieteur News reported that the project has run late. In February 2025, Kaieteur News said the Wales gas-to-energy project had slipped again, with completion now pushed back to 2026 amid contractor disputes.
Stabroek News also reported that the project had been promised for December 2024, or even earlier. It said full 300 MW operation had been pushed to mid-2027. Initial operations were set for the end of 2026, the paper said. It also said a dispute with the contractor had gone to arbitration.
Kaieteur News also reported what the Environmental Protection Agency said about the project's environmental review. The agency said the power plant did not need an EIA. An EIA is a formal study of a project's effects on the environment. It said one environmental study covered both the NGL and the power plant.
The story was first reported by Kaieteur News.