Guyana, IDB ink US$1.7M in Technical Agreements

Mar 07, 2017 News

… focus on fiscal management, housing strategy and aviation safety
Guyana’s Finance Minister Winston Jordan yesterday signed three Technical Cooperation

Finance MinisterWinston Jordan and IDB’s Country Representative, Sophie Makonnen signing the agreements yesterday.

Agreements – valued at a total of US$1,762,250 – with the Inter-American Development Bank (IDB), which will aid in key areas of development.
Signing on behalf of the IDB was the entity’s Country Representative, Sophie Makonnen.
The Agreements represent technical assistance resources for the following priority national development activities: development of a comprehensive national housing strategy funded at US$517,250; a fiscal management modernisation project funded at US$745,000; and a national civil aviation plan for Guyana funded at US$500,000.
Minister Jordan acknowledged the timeliness of the Agreements and said that they are critical to the Government’s Agenda to consolidate and restructure the delivery of services in these areas while at the same time, stimulating growth within the sectors.
The “Support for the Development of a National Housing Strategy” programme will assist the Central Housing and Planning Authority (CH&PA) in preparing and disseminating a Comprehensive National Housing Strategy. This IDB funding will enhance CH&PA’s developmental approaches and interventions in the sector, thereby assisting citizens to access more cost-effective housing.
The “Fiscal Management Modernization Project” is designed to create greater efficiency in Guyana’s revenue administration. This will envelop a strategic organizational structure and strengthen institutional and technical capacities of human and other resources of the Guyana Revenue Authority. It also undertakes an assessment of the property tax collection system administrated by the Valuation Division of the Ministry of Finance. This assessment will see more realistic valuations of properties in Municipalities and Neighborhood Democratic Councils, which in turn will lead to an increase in the value of real estate.
The “Support for a National Aviation Master Plan” will provide much-needed support to the Guyana Civil Aviation Authority (GCCA) as it will prepare a National Air Transport Plan, a National Airports Plan, and a National Plan for the Administration of Civil Aviation.
The GCCA is seeking a thorough analysis of the aviation sector that will allow it to plan more strategically, improve the quality of civil aviation oversight, and hasten structured improvements to the sector. Government is keen for an analysis of the sector that will allow it to plan more strategically for its development.
In brief remarks, Ms. Makonnen said that technical funds finance activities to transfer technical know–how and expertise, capacity building, transfer of knowledge and research – including diagnostic, pre-investment and sector studies that support project design and preparation.
The Guyana government lauded the IDB for its commitment to the country’s development over the years.
The signing was witnessed by Minister of Communities, Ronald Bulkan; Ministers of Public Infrastructure David Patterson and Annette Ferguson; Finance Secretary, Dr. Hector Butts, and other Heads of Agencies.

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