Public Infrastructure Minister David Patterson says USD 10 million will be treated as a loan and the remaining USD 8 million as a grant.
He said Thursday that the ferry will travel what he called a "treacherous" 24-hour route between the capital of Georgetown and Guyana's northernmost region near Venezuela.
Hundreds of people currently use outdated ferries that serve that route because it is cheaper than air transportation.
The government of India loaned Guyana USD 25 million more than a decade ago to build a stadium.
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