$9.1B for agri sector

Jan 20, 2011 News

– Abattoir construction, more credit facilities this year

The country’s National Budget this year has released to the agriculture sector some $9.1 billion which represents a 35 percent increase in capital and an eight per cent percent decrease in current funding.
The recent increase in its capital funding will see emphasis being placed this year on the construction of a genetic bank at the Guyana Livestock Development Authority (GLDA), the rehabilitation of the germplasm laboratory at the National Agricultural Research and Extension Institute (NAREI), rehabilitation of quarantine stations, rehabilitation of control structures and access roads at Canals Polder, purchase of field, inspection and laboratory equipment, and the commencement of construction of an abattoir.
It was disclosed that the expansion of agricultural lands and greater demand to bring new lands under cultivation necessitates an increased number of pumps and the construction and rehabilitation of key drainage and irrigation structures.
It also means access roads, and improvement in the discharge capacity and flood control performance in farming, something that has become necessary. The Hope canal project will be advanced and installation of additional fixed and mobile pumps to deal with the effects of climate change.
In 2011, efforts will be made to expand new and emerging sectors of the economy to complement the traditional sectors, rice and sugar.
As such, $1.5B has been allocated to the rice and sugar sectors compared with $1.3B for 2010. This will be further boosted with the implementation of the strategic plans for the three cluster groups, fruits and vegetables, livestock and aquaculture.
Measures have already been taken and investments made to provide institutional strengthening, capacity building, credit facilities, improved physical infrastructure and the upgrading and enactment of legislation for the efficient operation of the plant, animal and food safety agencies.
This year, the country will see two financial facilities established to provide funding for qualified producer groups to improve their farming systems and processing activities.
The grant facility which will facilitate the acquisition of farming equipment, land clearing and preparation, building works and acquisition of breeding animals.
The credit facility will target individual farmers, as well as farmers’ associations on a larger scale, through providing infrastructure and equipment to boost value-added interventions, improve the business climate, encourage private sector involvement and create competitiveness within the sector.

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$9.1B for agri sector

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