The Ministry of Housing and Water has received 12 Expressions of Interest (EoI) after publicly advertising in the hope of raising US$250m ($50b) to support its housing development plans.
“We have received responses from several banks and investment firms,” Minister Collin Croal told Stabroek News yesterday.
He explained that the responses are currently with an evaluation team which will perform the technical work necessary to select the most suitable proposals after which the process will possibly move to negotiations.
In October government issued an advertisement seeking EoIs as part of efforts to raise the money to support its housing development plans for the next five years.
“Guyana is poised to quadruple its GDP in the upcoming years as a result of the oil and gas sector. In parallel, the GoG intends to transform the infrastructural landscape of Guyana with the undertaking of major urban development plans”, the advertisement said.
It explained that the government’s objective is to stimulate economic interest and seek the “best deal for the citizens of Guyana, while adhering to the highest standards of transparency”. It noted that entities desirous of participating in this financing activity are invited to submit a proposed term sheet.
The sheet was expected to include the interest rate and terms, a detailed term sheet clearly outlining assumptions and expectations, time period to conclude financing, capability and experience of participating entity and such other terms and conditions as may be relevant.
The ad said that the government will assess the responses to the EoIs and select those parties who will be invited to negotiate/participate in a Housing Financing Development Plan.
