Guyana set for IDB’s annual consultation with Caribbean Governors

Guyana will be hosting the President of the Inter-American Development Bank (IDB) Ilan Goldfajn and a large delegation of Caribbean representatives of the financial institution for the IDB’s XII Annual Consultation with Caribbean Governors of the IDB slated to commence today, with working sessions to take place between Government and the Bank at the Marriott Hotel in Georgetown.

A press release from the Ministry of Finance said that delegations visiting Guyana for the consultations will include several finance ministers from the Caribbean who will meet to discuss regional partnerships under the theme ‘Partnering for Resilience’. The IDB President and delegations are slated to meet with President Irfaan Ali and other Government officials during their visit here.

The release said the IDB organizes its consultative meeting annually with

Governors of countries comprising its Caribbean Country Department in preparation for the Annual Meetings of the Board of Governors. This consultation involves dialogue about the IDB Group’s new Institutional Strategy, the IDB Invest and IDB Lab resolutions, as well the Group’s new “ONE Caribbean” regional programme.

According to the Ministry, Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni Singh, said that Guyana found a dependable, relevant, and responsive development partner in the Bank in the past 47 years, adding that “this relationship has evolved since our membership from concessional lending during periods of challenging economic circumstances to our present reality of being amongst the fastest growing economies in the world”.

Singh added that the Bank has remained steadfast in its support to Guyana’s development agenda and has managed to retain its position as Guyana’s largest multilateral lender and main source of external financing. Recently, the Bank has been providing major development support to Guyana through both its public and private sector arms.

The Ministry said the IDB Group is the leading source of development financing for Latin America and the Caribbean and contributes to improving lives by providing financial solutions and development expertise to public- and private-sector clients. It comprises the IDB, which has worked with governments for more than 60 years; IDB Invest, which serves the private sector; and the IDB Lab, which tests innovative ways to enable more inclusive growth. The longstanding partnership between the Government of Guyana and the IDB Group began on November 16, 1976 when Guyana became a member of the IDB.