Cabinet on Tuesday approved a $3B transfer by the Guyana Geology and Mines Commission (GGMC) to the housing authority, CHPA, abandoning a plan for a loan between the two agencies that had attracted controversy and a court challenge.
The legal challenge had resulted in a court order on February 27, 2015 for the GGMC to justify an earlier decision for a loan between the two agencies. (An earlier version of this story had mistakenly described the $3B transfer as a loan.)
Authoritative sources say that following the presentation of a memorandum by the Ministry of Natural Resources and the Environment and the Ministry of Housing and Water, Cabinet approved the transfer of $3b to the Central Housing and Planning Authority (CH&PA) to support the development of housing infrastructure projects in mining communities.
It is unclear what impact Cabinet’s decision on the transfer will have on the
