The European Union has agreed to fund the construction of a small hydropower station on the Chiung River at Kato in Region Eight.
The total cost of the project is pegged at 2,455,797 euros (approximately $615 million) with the EU contributing 1,841,848 euros (approximately $460 million) under the 10th European Development Fund (EDF) while the Guyana Government will contribute 613,949 euros (approximately $154 million), the EU Delegation in Guyana announced in a press statement yesterday. The construction phase is expected to begin in February 2013 and be completed by February 2015.
The statement said the financing agreement for the Micro-Hydropower System has since been dispatched by the EU Delegation in Guyana to the Minister of Finance who acts as the
