India announces $500 million credit line for Guyana

India has announced the extension of a $500 million credit line for the country of Guyana. This financial assistance will be utilised for projects related to roads, health, and defence in Guyana. External Affairs Minister S. Jaishankar made this significant announcement during a meeting with Guyana's President Dr. Irfaan Ali in Antigua and Barbuda.

According to a report by Business Standard, this discussion took place between S. Jaishankar and President Ali during the Commonwealth Heads of Government Meeting. Both countries have also signed agreements regarding the supply and installation of production projects for Micro and Small Enterprises (MSEs). Additionally, understandings were reached regarding grant assistance for the implementation of Quick Impact Projects and cooperation for digital public infrastructure, including the operationalisation of a system like UPI in Guyana.

S. Jaishankar stated on social media that following Prime Minister Narendra Modi's visit in 2024, continuous progress has been observed in the bilateral cooperation between the two countries. He expressed pleasure regarding the meeting with President Ali. Prior to this meeting, Jaishankar attended a breakfast meeting of Commonwealth leaders and business leaders, where he urged Commonwealth partners to mitigate risks and bring about diversification.

S. Jaishankar is serving as India's External Affairs Minister and has discussed various international issues with Commonwealth leaders.