Islamic Development Bank to sponsor dairy, fruit processing plants

Oct 17, 2016 News

Representatives from the Islamic Development Bank met with Agriculture Minister, Noel Holder to discuss assisting with agriculture development here.
The establishment of a dairy plant, a fruit processing plant and assisting with infrastructural works in the Intermediate Savannahs was discussed.
Projects were prioritised based on the ministry’s ability to complete them by the end of 2017, as the Islamic Development Bank contemplates including these projects in their 2017 budget.
The dairy plant was at the top of the list for consideration for investment, as Guyana has a high import bill for dairy products and bi-products. Agriculture Minister, Noel Holder, stated that a dairy plant would bring immediate returns for the Guyana.
“Dairy products have one of the highest import bills. If we establish a dairy plant, we would be able to supply milk to schools, hospitals, the army and other organisations. We have also taken into consideration the importance of having the plant in an area where the infrastructure and the market already exists. You must build the dairy plant where the market is rather than where the production is.” Minister Holder said.
Mr. Saifullah Abid, Senior Country Program Manager for the Islamic Development Bank said that the bank supports integration between its member countries.
“The mandate of the Islamic Development Bank is to promote and foster socioeconomic development in our member countries.” Mr. Abid said.
Mr. Tarachand Balgobin, Project Cycle Management Division Director at the Ministry of Finance, made mention of having a processing plant for fruit crops.
“We have many fruit crops that go to waste. We have been looking for parties to commercialise and develop these commodities. If there is investment in a fruit processing plant, we will be able to cut down on wastage and add to the agro-processing sector.” Mr. Balgobin said.
Permanent Secretary of the Ministry of Agriculture, Mr. George Jervis, stressed the need for major investments to further foster development in the industry.
“The areas that have land for these major projects lack proper infrastructure. There is a great need for investments in roads to access these areas.” Mr. Jervis said.
Minister Holder also stated that having a road system put in place would see agricultural development in the interior regions being able to realize its full potential.
Mr. Mohammad J. Alsaati, the Special Advisor to the Vice President and Director of Country Programs Department of the Islamic Development Bank, said the bank will have a team of experts look at developmental programmes in rice and livestock.
The intention is to have the team come to Guyana, to meet with representatives of the Guyana Livestock Development Authority and the Guyana Rice Development Board to offer advice to further develop the sectors.
A draft document of the plans for the dairy plant is expected to be presented to the Islamic Bank representatives by the end of next week in order for funding for this project to be considered.

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