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UG US$10 million project stalled

Jan 29, 2012 News

 

The first major inflow of funds for the University of Guyana in over 20 years has been stalled, as the University waits on the Minister of Finance to sign off on a loan document.
Seven months ago, the World Bank approved a credit of US$10 million to strengthen science and technology education at the University, but the money is yet to be released to the University by the Guyana Government.
“The loan to the Government of Guyana is not yet activated because the Minister of Finance is still to sign a crucial financial loan document,” Professor Lawrence Carrington, the University’s outgoing Vice Chancellor said Friday.
He said that the University has tried to have the matter resolved with the former Minister of Education, Shaik Baksh, with the now Minister of Education Priya Manickchand, and with the Minister of Finance Dr. Ashni Singh “but the matter is still incomplete.”
Carrington said that the project was one of the single most important successes that could be reported by the University.
My hope is that the university will continue to press for this loan to be activated and to cooperate with the processes that it will entail.
The World Bank approved of the unprecedented science and technology support programme at the University to support the country’s Low Carbon Development Strategy (LCDS).
The project’s goal is to revitalize the University’s science curriculum and support more applied research towards meeting the critical needs anticipated with the implementation of the LCDS.
Some of the funding will go towards improving laboratory and building infrastructure at four faculties in a total of 14 buildings. The labs will be fitted with scientific equipment to enable the delivery of practical science education and research, and also establish a campus wide internet network.
The World Bank estimated that an estimated 6,300 students and faculty will benefit from this project.
The US$10 million credit will be carried out over a period of five years and is provided by the World Bank’s fund for the poorest, the International Development Association (IDA).

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