A US$7.96 million loan agreement has been inked between the Government of Guyana and the International Fund for Agricultural Development (IFAD) for a sustainable development project to benefit over 80 indigenous communities in regions One and Nine.
Minister of State Joseph Harmon made the announcement yesterday during the weekly post-Cabinet press briefing at the Ministry of the Presidency.
Harmon explained that Cabinet was briefed at Tuesday’s meeting on the signing of the agreement by Minister of Finance Winston Jordan and it approved the laying of the agreement in the National Assembly.
A Government Information Agency (GINA) report subsequently stated that the loan would fund the Hinterland Environmental Sustainable Development project, which will create opportunities for investment and development for “the establishment of an investment fund for farmers, the execution of a food and agricultural study in Region One, Barima-Waini, and institutional strengthening.”
The project would be undertaken in the sub-districts of Region One (Barima-Waini) and Region Nine (Upper Takutu-Upper Essequibo), resulting in over 80 Indigenous communities being beneficiaries.
“The project will comprise two main components which includes strengthening of communities and producer groups’ investment planning and implementation of investment plans. A third component will be dedicated to project management, monitoring and evaluation, and knowledge management,” GINA reported.