-
Finance
-

Two US Companies to Build 10,000 Affordable Homes in Guyana, Ambassador Says

By
Diligence Posts Editorial Team

The United States ambassador to Guyana, Nicole Theriot, says two American companies will build 10,000 homes under the government's affordable housing programme. She named them as US Frame Factory, based in Louisiana, and Golden Shield Homes, based in Indiana. Ms Theriot made the statement on the Energy Perspectives podcast. In the material reviewed for this article, neither the companies nor the Guyanese government had confirmed the figure.

Ms Theriot described the houses as affordable ones that an average Guyanese buyer could purchase, and said they were not meant only for wealthier households. She gave no price, no timetable and no locations. US Frame Factory makes steel framing for construction at a plant in Broussard, Louisiana, according to local reporting. I found no independent information on Golden Shield Homes.

The building is to be financed through the Export-Import Bank of the United States, the American government's official export credit agency. The bank lends to support exports of American goods and services. Ms Theriot did not state the size of the financing, and the bank has not published a figure for housing in the material reviewed.

The bank's president and chairman, John Jovanovic, met President Irfaan Ali in New York in September. According to government reporting of the meeting, the talks covered the completion of the first phase of the Wales gas-to-energy project, financing for a second phase and the bank's possible role in a structure for a deepwater port. Mr Ali said the bank's support was widening beyond energy to include housing and security. Mr Jovanovic said the bank was advancing an affordable housing construction project with American companies. The report of the meeting does not name the companies or give a value for the project.

The bank has already financed work in Guyana. Its board approved $527 million for the first phase of the Wales project, according to the bank. Mr Jovanovic visited the site in April, when the bank said the United States had a strategic interest in deepening the relationship.

Ten thousand homes would equal a quarter of the five-year target and nearly four times the number built over the past five years. The government has said new homes will be built mainly as complete turnkey units, because applicants prefer finished houses to empty lots.

Ms Theriot said the two countries also work together on security and infrastructure. She spoke of a relationship that extends beyond energy, and the Export-Import Bank's activity in the country reflects that range.

‍