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Finance Minister Dr Ashni Singh (left) and Gerard Johnson of the IDB ink one of the loan agreements.…will see extension of East Bank four-lane highway Finance Minister Dr Ashni Singh and General manager,Doug Gilmour Jersey, Caribbean Country Department of the Inter American Development Bank,Brett Hull Jersey, Gerard Johnson, yesterday inked three loan agreements totalling US$32.8M.The deals which were inked in the presence of Junior Finance Minister Dr Jennifer Webster,Brian Sutter Jersey, Housing and Water Minister Irfaan Ally and Public Works Minister Robeson Benn, as well as other officials of the Ministry of Finance, will pave the way for the extension of the East Bank Demerara four-lane highway, the improvement in the Georgetown sanitation programme , and the continued improvement in the public financial management system.One such loan agreement inked was to the tune of US$22M for the extension of the four-lane highway from Providence to Diamond,Scott Darling Jersey, East Bank Demerara.Public Works Minister, who was on hand at the signing,Al Macinnis Jersey, cited the increased number of vehicles on the roadway coupled with the fact that there is the largest housing scheme on the East Bank of Demerara which has given rise to a significant increase in the road traffic necessitating the widening of the road.Minister said that within recent years some 10,000 vehicles were being registered annually,Jason Spezza Jersey, placing severe pressure on the roadways.He said that in the process some 16 bridges and culverts will be widened. Government will contribute US$2 million to this programme and the IDB will provide the remainder.The Minister added that his Ministry will also be advocating for a “better road usage culture.”Another deal signed was for the housing and water sector to the tune of US$10M for the Ministry’s sanitation program particularly the Georgetown sewerage system. The IDB will be providing US$9.5 million.Minister Ally told media operatives that the money will be used to improve energy efficiency. He said that his Ministry will be seeking to work more closely with the private sector in implementing the project.A team from Guyana is heading to Belize to study the cost reduction methods in the energy efficiency programmes.There was also the grant agreement which was signed to the tune of some US$825,Aaron Ekblad Team North America Jersey,000 which is aimed at improving the public financial management system which Johnson described as the invisible infrastructure.He said that there must be a balance between the physical infrastructures as well as the management of the public financial system.Johnson pointed out that while the average Guyanese might not be able to see the improvement in the public financial management system there has been improvement over the years.He also pointed out that Guyana is the only country in the Caribbean that accesses money under the IDB subsidized window which attracts a lower repayment interest.The IDB has an open window which has more money to be accessed,Scott Gomez Jersey, but the window for the funds from special operations, because it is subsidized credit,Jason Pominville Jersey, is limited and as such Guyana utilizes that option.Dr Singh speaking at the simple signing ceremony spoke of the many significant developments that have occurred over the years singling out projects such as the Berbice and Takutu River Bridges as well as the soon to be built bridge to link Guyana and Suriname.The Minister said that the signing of the loans and grant was another step in the transformation of Guyana adding that the country is well underway in this respect.According to Dr Singh the Government is committed to transforming Guyana into a more modernized country.