Latest update January 4th, 2026 12:28 AM
Latest News
- U.S. to ‘run’ Venezuela until ‘safe transition’ – Trump
- Guyana supports efforts that uphold democratic norms – President Ali
- Guyana must prepare for any eventuality after U.S. strike on Venezuela – APNU
- New Amsterdam building gutted by fire
- $2B loan for Hospitality Institute flagged “at risk” by Caribbean Development Bank
$2B loan for Hospitality Institute flagged “at risk” by Caribbean Development Bank
…report cites increased cost due to site relocation, other issues
(Kaieteur News) – Guyana is listed as one of four countries with projects “at risk” in the Caribbean Development Bank (CDB) 2024 Annual Report of the Special Development Fund (SDF).
According to the document seen by this newspaper, the construction of the Guyana Hospitality and Tourism Training Institute, pegged at around $2B and being funded by the CDB was “at risk” for two reasons.
It was explained that there was an increase in the cost of the development due to a change in the project site and redesign. Furthermore, the Bank stated that the “potential redesign” was not approved, since it omits key childcare facilities.
Construction of the Hospitality and Tourism Training Institute.
The report states that the project is valued at US$9,780,000 or approximately GY$2B. As at December 31, 2024, 31% of the loan amount or US$3B was disbursed by the Bank for the initiative.
In September, the Minister of Tourism Industry and Commerce, Susan Rodrigues visited the construction site for the institute at Port Mourant, Corentyne, Berbice. She expressed concern about the pace construction as the project nears its June, 2026 deadline.
Rodrigues said, “This world-class facility, with the capacity to train 200 persons per cohort, will offer Caribbean Vocational Qualifications in areas ranging from mixology to cosmetology. We recognise that a growing sector requires a skilled workforce, and as a proactive government, we are ensuring that Guyanese are well-positioned to benefit from this expanding industry, while simultaneously building national capacity.”
Notably, the project is being executed under the Ministry of Education. It is the country’s first Hospitality and Tourism Training Institute. It was reported that Kares Engineering Inc. and the architectural engineer, Deen and Partners, were awarded the contract for the facility under construction.
Kaieteur News reported that the Hospitality and Tourism Training Institute, when completed, is geared at training personnel to ensure that they are equipped with the skills and knowledge that are necessary to staff and manage the growing tourism and hospitality sector in Guyana.
At the sod-turning ceremony in February 2024, the then Minister of Tourism, Industry and Commerce, Oneidge Walrond, said the institute is aimed at equipping students with hands-on training in a world-class facility that would enhance their knowledge of the sector, including modern approaches required to operate at international industry standards.
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Sir. Ronald Sanders
The GHK Lall Column
Weekend Cartoon
