US and Guyana inked Bi-lateral assistance agreement in total of 13 Million US Dollars

   Finance Minister Dr. Ashni Sing and USAID/Guyana Mission Director Carol Horning today signed a memorandum of Understanding on the Bilateral Assistance Programme. Minister Singh said that the signing represents and will see the conclusion of “part of a continuum that is reflective of a strong relationship He noted that the ties between the two countries are informed not only by history, and geography, but also by a significant Guyanese diaspora in the USA and shared values such as commitment to promoting democracy and human development. In the area of private sector development, Guyana ’s central policy thrust is modernising traditional sectors and promoting economic diversification of its productive base. To this end, several initiatives have been implemented with strong support from development partners such as USAID. Minister Singh said that the areas that will be addressed under the MoU including institutional development, governance, private and social sector development and environmental issues, all reflective of national priorities that have long been embraced and espoused by Government and USAID as those that they are happy to support. The MoU will see the USAID providing a total of US $13.1M to be spent under the various categories, which is part of a multi- year programme that will see in excess of US $75M of support provided over the period 2009-2013. Speaking on behalf of the US Government Carol Horning said that the funds are an additional sum that is being provided under the bilateral assistance agreement which was signed between USAID and the Ministry of Finance in 2009 to build on past successes and address gaps that have been identified. She said that in terms of economic growth, strategic, export-focused partnerships with private sector firms in the agriculture sector have been established. These firms in turn, contracted relationships with 30 small producers, to whom they provide technical assistance and guarantee the reliable purchase of commodities. An allocation of US $2,000,000 was made for activities in support of improvement of democratic processes and governance institutions and systems, while US $2,809,000 was allocated for activities to increase Guyanese producers of non-traditional exports in the international markets, enhance private sector competitiveness for export development and to address global climate change.