• IDB Invest will support Muneshwers with advisory services for energy efficiency with photovoltaic systems on rooftops.

GEORGETOWN, Guyana – IDB Invest and Guyana Bank for Trade and Industry Limited (GBTI) have partnered with Muneshwers, a leading transport and logistics company in Guyana, to provide a US$14 million financing package for two new multipurpose cargo cranes and a new logistics warehouse to help increase the port terminal's processing capacity. The financing consists of a senior loan of US$10 million from IDB Invest and US$4 million from Guyana Bank for Trade Industry & Industry Limited.

The project is located at the Port of Georgetown and will increase trade flows by helping Muneshwers increase the cargo handling capacity from the 30,000 twenty-foot equivalent unit containers per year to almost double the capacity in 2025. The improvement of the port infrastructure will also support port productivity by increasing berth movements for cargo from different parts of the world including Suriname, Trinidad, Colombia, and Panama. In 2022, IDB Invest provided a US$4 million loan for the company to acquire its first mobile harbor crane.

IDB Invest will also support Muneshwers to improve its sustainability and energy efficiency through technical and economic feasibility studies to implement a photovoltaic solar system on rooftops, and for energy storage to increase its resiliency.

Muneshwers is also implementing a Corporate Governance Action Plan to raise its standards and incorporate best practices at board and management level.

IDB Invest's participation in this project will mobilize the private sector to develop infrastructure projects in Guyana that can be replicated in other Caribbean countries.

The project is expected to contribute to the following United Nations Sustainable Development Goals (SDGs): Industry, Innovation and Infrastructure (SDG 9).

About IDB Invest

IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of US$16.3 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.

About Muneshwers

Muneshwers Limited is a privately owned and operated company headquartered in Georgetown, Guyana and is now in its third generation of ownership. It is one of the five multi-purpose terminals in Port Georgetown and with a significant market share in the industry. The company provides import and export services of containerized cargo to various parts of the world with direct services to Suriname, Trinidad, Colombia, and Panama. With over thirty (30) years of experience in the shipping industry, the company is positioning itself to take opportunity of Guyana’s rapid economic growth.

About Guyana Bank for Trade Industry & Commerce

GBTI, the largest indigenous bank in Guyana is a member of the Edward B Beharry group. The bank is deeply rooted in the local community with a strong presence across the country. With a team of over 600 members, the bank emphasizes a culture of inclusivity, accountability, and transparency in a stable and esteemed work environment, offering customized banking and investment solutions for both businesses and individuals positively impacts the lives of many Guyanese families and clients alike. GBTI is committed to helping clients achieve their goals, led by a resilient and experienced leadership team.