The 160 million Euro (€) loan agreement that was signed last week for the building of the New Demerara Harbour Bridge (DHB) formed part of the financing model proposed by the Chinese contractor, Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh says.
“The $260 million signed last year was for the EPC (Engineering, Procurement and Construction) contract. The loan agreement that was signed last week is now the financing agreement, pursuant to the proposal made by the EPC contractor in their bid to mobilise bank financing through the Bank of China for the project,” Dr Singh told Stabroek News yesterday when contacted.