Guyana is set to benefit from an additional 50 million Renminbi (US$7.5 million/$1.5 billion) in grant aid from China, after Finance Minister Dr Ashni Singh and Chinese Ambassador to Guyana Yu Wenzhe signed an economic and technical co-operation agreement yesterday.
While it has not yet been decided on what specific projects the approximately $1.5 billion would be used, Singh said that “guided by historical precedence,” the money will be most likely focus on social sector, training, building capacity and those kinds of areas. Ambassador Yu Wenzhe said the “the focus is on the social and economic development of the country which in turn will improve the living standards of