CDF SIGNS EC$19.76 MILLION AGREEMENT WITH THE GOVERNMENT OF GUYANA

 

 

Wednesday, August 22, 2013 – (Bridgetown, Barbados): The Barbados-based CARICOM Development Fund (CDF) has signed an EC$19.76 million (US$7.3 million) Country Assistance Programme (CAP) agreement with the Government of Guyana.

 

CDF CEO, Ambassador Lorne T. McDonnough, explained that the agreement is expected to provide 9 500 farming households with easier access to farmlands in Guyana, thereby contributing to an increase and to sustaining agricultural production all year, which is tangible evidence of Community mechanisms at work.

 

He said: “This event is a milestone in the process of deepening our integration in CARICOM. It is the fifth of the scheduled eight country interventions in CARICOM which the CDF is programmed to undertake during the first funding cycle. I believe we are in striking distance of achieving our mandate set by our Board in 2008 to support all beneficiaries during the first subscription cycle.

 

“The Community undertook to provide technical and financial assistance to Guyana as a then HIPC country to minimise CSME related dislocations, expand its capacity and improve its participation in the CSME.

 

“The facility consists of a mixture of loan and grant resources which together are aimed at supporting the development of agricultural farming businesses, mainly small and medium sized, as well as increasing the capacity of the Government to support exports. Further, the programme of activities which is supported was determined by Guyanese and is to be implemented by Guyanese.”

 

Ambassador McDonnough added that the CDF, through its monitoring of the programme, and in collaboration with all stakeholders, is committed to ensuring that the intervention makes a tangible difference in the lives of the people of Guyana.

 

 

CDF and Guyana sign EC19.76 Million Agreement
CDF CEO, Ambassador Lorne T. McDonnough (right) and Guyana’s Finance Minister,

Dr. Ashni Singh (left), sign the CAP agreement in the presence of President Donald Ramotar (centre).