The Inter-American Develop-ment Bank (IDB) yesterday announced the approval of a number of technical cooperation grants totalling US$925,500 or $187.4 million to support Guyana’s bio-energy development plans and to encourage private investment in bio-fuels production.
A release issued by the IDB in Washington said that the funds, to be administered by Guyana’s Ministry of Agriculture, will be used by the Guyana government to promote the development of its nascent bio-energy sector through policy development, training, feasibility studies and incentives for private investment.
“These grants will help the Government of Guyana to turn the country’s extraordinary bio-energy potential into a reality,” the release quoted IDB project team leader for technical cooperation Christiaan Gischler as saying.
