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CDB approves US$194M of assistance for Guyana
Guyana is set to draw down US$194M from the Caribbean Development Bank (CDB) over the next five years to improve the country’s competitiveness and productivity, quality of education, and strengthen against natural disasters.
Dr. Justin Ram, Director of Economics, CDB
According to CDB yesterday, its Board of Directors has approved a country strategy for Guyana for the period 2017 to 2021.
“The programme of assistance will drive social and economic development; support environmental sustainability; and promote good governance in Guyana. The strategy will be supported by a proposed resource envelope of USD194 million.”
The amount includes Guyana’s allocation of US$65M from the United Kingdom Caribbean Infrastructure Partnership Fund (UKCIF) and resources from CDB’s Special Development Fund (Unified).
“We are pleased to be supporting the Government of Guyana in accelerating poverty reduction, and inclusive, sustainable economic growth. We look forward to working together with our country stakeholders to implement this results-focused programme of assistance,” said Dr. Justin Ram, Director of Economics, CDB.
The country strategy is designed to help Guyana achieve five key development outcomes.
These include increased competitiveness and productivity; improved quality and access to education and training; strengthened social protection; reduced vulnerability to natural disasters; and improved governance and development planning.
CDB explained that each intervention delivered under the country strategy will include gender equality, regional cooperation and integration, as well as energy and citizen security considerations.
“The programme of assistance responds to Guyana’s development priorities, and builds on the Government’s “Vision 2020”, which articulates a national goal of “sustainable socioeconomic development, good governance and human safety within a green economy,” the bank explained.
Guyana has been tapping into loans from CDB for a number of years now targeting education and infrastructural projects.
According to CDB, the approved strategy aligns with its objectives of supporting inclusive and sustainable growth and development, and promoting good governance.
“It also takes into account the Bank’s cross-cutting themes of gender equality, regional cooperation and integration, and energy security.”
CDB is a regional financial institution established in 1970 for the purpose of contributing to the harmonious economic growth and development of its borrowing member countries (BMCs).
In addition to the 19 BMCs, CDB’s membership includes four regional non-borrowing members – Brazil, Colombia, Mexico and Venezuela and five non-regional, non-borrowing members – i.e., Canada, China, Germany, Italy, and the United Kingdom.
CDB’s total assets, as at December 31, 2015, were US$2.7B.
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Seriously I doubt it’ll work but that’s my personal opinion with this Administration, one of the most incompetent Administration in office is presently this one this Administration make Linden Forbes Sampson Burnham looks like Child’s Play you have 3 different Administration PNC APNU AFC , all of which is very very much and incompetent of running this country but again that’s my personal opinion