Georgetown: Over 35,000 residents in rural Guyana are expected to benefit from a US$2.4M loan agreement signed today between the Government of Guyana and the CARICOM Development Fund (CDF). This new allocation supplements US$9.1M that Guyana received in July 2013.
Signing for the first time as a Minister and representing Guyana, Finance Minister Winston Jordan and newly appointed Chief Executive Officer of the CDF, Rodinald Soomer inked the document at the Minister’s office, Main Street.
Delivering brief remarks to the media prior to the signing, Minster Jordan explained that the funds will be utilised for upgrading roads and agricultural lands in certain key areas namely, Onverwagt, Region Five, Parika, and Ruby, Region Three and Laluni, Region Four.
Jordan said that even as it brings new lands under cultivation, this would mean “new activities, in those areas and obviously rapid growth in agricultural output and production and incomes to households.”
The agreement has been deemed by the Minister as particularly important for rural communities where activities are sparse as this will help to alleviate problems hindering access in the backlands.
Under the agreement, approximately 12 kilometres (km) of asphaltic concrete roads will be constructed, while 13km of all-weather roads will be upgraded and two reinforced concrete bridges built.
These upgrades will help relieve many of the problems hindering access to the backlands which are often impassible as a result of damage caused by adverse weather and heavy- duty machinery. The loan will also rehabilitate bridges that have been compromised. All the roads are expected to be completed by August 2016.
An estimated 9,500 farming households will directly benefit from access to prime agricultural backlands in all seasons as government aims to help farmers in these areas increase production, income and export in cash crops. This in turn will contribute to price stability for green vegetables mainly on the domestic market.
In his brief remarks Soomer stated that the achievements to date have been impressive as all the works have been completed within budget and on schedule.
He added that Guyana can benefit from more resources to finance other projects in agriculture and other sectors as it automatically qualifies for further support by virtue of it having paid up its full assessed contribution to the Fund.
Minister Jordan thanked CDF and said that Soomer’s comments augur well for future collaboration with the CDF as the Government continues with its agenda for all Guyanese to realise the good life.
The CARICOM Development Fund provides technical assistance to disadvantaged countries, regions and sectors in the Caribbean Community (CARICOM) to enhance their prospects for successful competition, and to redress any negative impact of the establishment of the CARICOM Single Market and Economy (CSME).
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