Forestry sector to tap commercial banks for capitalization funding
Stakeholders in the local forestry sector are to make a submission to local commercial banks that could determine whether or not the industry secures the financial support it desperately needs for recapitalization, President of the Forest Producers Associa-tion (FPA) Hilbertus Cort has told the Stabroek Business.
The submission, which Cort says could be made as early as next week, arises out of a meeting between the banks, forestry sector investors, the Forest Products Marketing and Development Council, (FPMDC) the Guyana Manufacturing and Services Association (GMSA) and the FPA held on Monday. Mining and Environment Minister Robert Persaud was also present at the meeting. The Guyana Bank for Trade and Industry, Demerara, Scotia and Citizens banks were also represented.
The submission to the banks is to be made through the local Bankers Association and Cort said it will draw on presentations made at the meeting by the various stakeholders as the …..To continue reading, login or subscribe now.