Latest update February 4th, 2025 5:54 AM
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CONSOC member organizations and affiliated individuals are not receiving funding from the IDB
DEAR EDITOR,
I am writing in response to a letter to the editor of July 31 in your publication captioned “Genuine concern of opposition politics?” The Inter-American Development Bank (IDB) would like to take the opportunity to inform the public that the IDB’s financing instruments (loans and technical assistance) are intended to fund public sector projects following a programming dialogue with the Government of the Cooperative Republic of Guyana and both parties are mutually in agreement with decisions.
The IDB Group also supports large-scale investment programs that promote the sustainable development of Guyana and its people. Through IDBInvest, we support the private sector to bolster competitiveness and growth while ensuring sustainability. IDBInvest provides financial products and advisory services to large companies, financial intermediaries, micro, small and medium enterprises (MSMEs), and partially or wholly-owned state enterprises.
The IDB supports the democratic processes of its member countries, and engages with civil society in these countries through its civil society consulting (CONSOC) mechanism.
In the case of Guyana, the CONSOC is composed of a wide range of civil society groups including: academia and other research institutions , the private sector, environmental groups, community groups and associations, including indigenous associations like NTC and APA. CONSOC member organizations and affiliated individuals are not receiving funding from the IDB.
Sophie Makonnen
IDB Country Representative Guyana
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