CDB proposes US $129M for Guyana over five years

The Board of Directors of the Caribbean Development Bank (CDB) has approved a country strategy for Guyana for the period 2017 to 2021 for US$194 million which includes US$65 million from the UK in a previously approved programme.

A CDB release on Friday said that the programme will drive social and economic development; support environmental sustainability; and promote good governance here.

The strategy will be supported by a proposed resource envelope of US$194 million. This includes Guyana’s allocation of US$65 million from the United Kingdom Caribbean Infrastructure Partnership Fund (UKCIF) and resources from CDB’s Special Development Fund (Unified).

“We are pleased to be supporting the Government of Guyana in accelerating poverty reduction, and inclusive, sustainable economic growth.

We look forward to working together with our country stakeholders to implement this results-focused programme of assistance,” said Dr Justin Ram, Director of Economics, CDB.

The country strategy, the release said, is designed to help Guyana achieve five key development outcomes:

1. increased competitiveness and productivity;

2. improved quality and access to education and training; 3. strengthened social protection; 4. reduced vulnerability to natural disasters; and

5. improved governance and development planning.

The release said that the programme responds to Guyana’s development priorities, and builds on the Government’s “Vision 2020”, which presents a national goal of “sustainable socioeconomic development, good governance and human safety within a green economy.”