Latest update March 25th, 2025 7:08 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

Eight regional projects attract US$10M

Dec 14, 2008 News

While 25 projects were submitted for financing at the Agriculture Investment Forum, only eight have been funded.
Advisor on Agriculture at the Caricom Secretariat, Sam Lawrence, said that the 25 projects that were submitted sought some US$50M investment.
The eight that have already negotiated financing managed to succeed in getting just under US$10M in funding.
Speaking to the local and regional media during the Caricom Secretariat’s end-of-year press conference, Lawrence said that there is a quarterly reporting mechanism system in place, which is updated on the status of all investments in the region as a result of the forum.
“When we reported on September 30 last, we had eight projects that were already funded. Five projects were in the process of advanced negotiations, and others were still being discussed,” Lawrence said.
Of the projects funded, he added, only one is being executed in Guyana.
Speaking with Kaieteur News yesterday, Agriculture Minister Robert Persaud said that Guyana’s agriculture investment is not restricted to those that were presented at the part of the forum.
He said that countries had only a limited number of projects at the forum.
In Guyana, the minister added, there are a number of projects that are at implementation and discussion stages.
According to Persaud, there are two major ethanol projects for which Memoranda of Understanding (MOU) have been signed. These are to the tune of some US$400M with an Indian and a regional investor.
Other small-scale investments are also on board, he added.
Over the past six months, the Agriculture Minister said, there have been some 50 agriculture investment projects from investors from within Guyana, the Caribbean and beyond.
He added that there are also a large number of persons who have expressed interest in various areas within and outside of the sector.
Many of these, he said, are at early stages of discussion, adding that new land areas are being examined for these investments.
Developers have been given lands outside of the acute flood zones.
He pointed out that areas such as the Soesdyke/Linden Highway are among the new zones where investors are being granted permits to develop.
This, he said, is being done in order for investors to facilitate their own infrastructural designs.
At the conclusion of the Agriculture Investment Forum which was hosted on June 6, it was stated that President Bharrat Jagdeo would have been approaching financial institutions on the possibility of establishing a special financing window for small states, explicitly recognising the characteristics related to size and vulnerability.
It was stated that the President, who is responsible for Agriculture in the region, would have also been making the representation on behalf of the private sector in the Caribbean Community (CARICOM).
Speaking at the press conference shortly after the conclusion of the Regional Agriculture Forum, Guyana’s Agriculture Minister Robert Persaud had said that, to ensure the indicative agreements reached and comments made at the forum bear fruit, it was decided that monitoring, supporting and reporting processes and mechanisms would be established.
This private/public sector mechanism should be an ongoing feature and report at least bi-annually to the CARICOM Head responsible for Agriculture.
Some 150 participants from across the region and Latin America attended the conference, which was hosted in Guyana.

Similar Articles

The Glenn Lall Show|| March, 17th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

Groups, schedule announced for One Guyana 3×3 Quest

Groups, schedule announced for One Guyana 3×3 Quest

Mar 25, 2025

Kaieteur Sports- With just 11 days to go before Guyana welcomes 16 nations for the largest 3×3 basketball event ever hosted in the English-speaking Caribbean, excitement is building. The Guyana...
Read More
2025 Republic Bank Caribbean Premier League Fixtures confirmed

2025 Republic Bank Caribbean Premier League...

Mar 25, 2025

Virtual Meeting of Caribbean Boxing Promoters held, Guyana among six countries with interest

Virtual Meeting of Caribbean Boxing Promoters...

Mar 25, 2025

GBA AirBadminton Tournament spikes off with historic showing at St. Cuthbert’s Mission 

GBA AirBadminton Tournament spikes off with...

Mar 25, 2025

Briton John sets sights on another sweep with second leg win

Briton John sets sights on another sweep with...

Mar 25, 2025

Waramuri stuns Vreed-en-Hoop 7-1, as Bush Lot topple Ann’s Grove

Waramuri stuns Vreed-en-Hoop 7-1, as Bush Lot...

Mar 24, 2025

Features/Columnists

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]