Residents of Better Hope to Belfield along the East Coast of Demerara can begin to look forward to reduced travel time and transport costs and less traffic congestion as Government has secured a concessional loan for the widening and improvement of the East Coast Demerara Highway.
Minister of Finance Hon. Winston Jordan on Monday last, signed a Concessional Loan Agreement with the Export-Import Bank of China for RMB Yuan 313,838,800 or approximately US$45,318,337.
In a press release, the Ministry of Finance said this concessional loan was achieved less than two months after the inking of the Framework Agreement between the Governments of the Co-operative Republic of Guyana and the People’s Republic of China that took place on November 23, 2016.
Importantly, this section of the roadway between Better Hope and Belfield links numerous highly populated villages to the Capital City. When completed, the road will enhance the mobility and accessibility of commuters to and from Georgetown. It will also positively impact the accident rate and vehicular maintenance.
China Railway First Group Company Limited Works will commence works in the first quarter of 2017.