Japan has provided a grant valued at some US$4.5 million to support the economic structural adjustment efforts of the Government of Guyana, specifically dealing with the problems of climate change.
The non-project grant is to be utilised also for the importation of raw materials and other products, the Government Information Agency (GINA) reported Monday.
The money generated from the sale of these imported products, GINA stated, will be placed in a “Counterpart Fund,” which will aid in the mitigation of economic difficulties and efforts of the government to achieve the reduction of remissions of greenhouse gases, bio-diversity conservation and the adoption of measures to prevent disasters such as inundation caused by the rise of sea levels.
Minister of Foreign Trade and International Cooperation Dr. Henry Jeffrey and Japanese Ambassador to Guyana Koichiro Seki signed the Exchange of Notes for the implementation of the Japanese Non-Project Grant Aid on Monday at Takuba Lodge.
Present at the signing were Japanese Honorary Consul Hans Barrow, representatives from the Japanese Embassy in Port-of-Spain, JICA Project Formulation Officer, Dr. Nakai, Minister within the Ministry of Finance Jennifer Webster and other representatives of the Ministry of Finance.
Minister Webster noted that as in previous grants, the private sector will benefit directly from the grant which will provide funds to facilitate the procurement of eligible commodities, regionally and internationally. Moreover, the grant makes provision for the end-users to import products that will assist in supporting the promotion of sound environmental management.
Meanwhile, Minister Jeffrey noted that over the years a series of project and non-project grants had been received from the Government of Japan for development works.
Recent projects, GINA reported, include assistance in the construction of the CARICOM Secretariat Headquarters, drainage and irrigation projects, the construction of the New Amsterdam Hospital and the recently-commissioned Corriverton water treatment plant.
In June 2007, President Bharrat Jagdeo visited Japan and had discussions with former Japan’s Prime Minister Shinzo Abe to further consolidate friendship and cooperation between the two countries.
There was discussion about the “Cool Earth 50” Initiative which is a long-term strategy aimed at global reduction of greenhouse gas emissions. Under this initiative the Japanese Government has committed to establishing a financial mechanism in the amount of US$10 billion to aid developing countries affected by the impact of global warming and climate change.
And coming out of that visit was an agreement also for Guyana to benefit from technical training. The first batch of Japanese senior volunteers will arrive during the course of this year, GINA stated.
Diplomatic ties were established between Guyana and Japan in 1969.
