President Donald Ramotar says the highway is to connect Guyana's main international airport to a large highway near the capital of Georgetown that runs to the coast.
He said late Thursday that USD 10 million of the amount pledged will be used to buy a passenger and cargo ferry that would operate between Port Georgetown and remote jungle communities near the border with Venezuela.
India and Guyana have collaborated on other projects in recent years, including a cricket stadium and a hospital.