Protocol on remitting the debt o

Protocol on remitting the debt of the

Guyanese Government owed to the Chinese

With a view to supporting Guyana to develop its national economy and reduce its debt burden, the Government of the Cooperative Republic of Guyana and the Government of the People's Republic of China have, though friendly consultations agreed on remitting the debt of the Guyanese side owed to the Chinese side.

The Government of the People's Republic of China has agreed to exempt the Guyanese side from the obligations of paying back six (6) tranches of outstanding interest-free loans which includes:

1. RMB ¥ 20,000,000 interest-free loan stipulated in the Agreement on Economic and Technical Cooperation between the Guyanese side and the Chinese side signed on March 14^th, 1975.

2. GBP £ 620,000 interest-free commodity loan stipulated in the Agreement on Economic and Technical Cooperation between the Guyanese side and the Chinese side signed on January 19^th, 1979.

3. RMB ¥ 20,000,000 interest-free loan stipulated in the Agreement on Economic and Technical Cooperation between the Guyanese side and the Chinese side signed on April 27^th, 1987.

4. RMB ¥ 20,000,000 interest-free loan stipulated in the Agreement on Economic and Technical Cooperation between the Guyanese side and the Chinese side signed on April 11^th, 1990.

5. RMB ¥ 30,000,000 interest-free loan stipulated in the Agreement on Economic and Technical Cooperation between the Guyanese side and the Chinese side signed on June 10^th, 1992.

6. RMB ¥ 30,000,000 interest-free loan stipulated in the Agreement on Economic and Technical Cooperation between the Guyanese side and the Chinese side signed on December 13^th, 1993.