Guyana signs $923m technical co-operation pact with EU

Minister of Finance, Winston Jordan, yesterday sealed a $923m pact with the European Union (EU).

A release yesterday from the Ministry of Finance said that the deal covers a  Technical Cooperation Facility (TCF) and Support Services Agreement for the National Authorising Officer (NAO) for approximately €4m. Signing on behalf of the EU was Ambassador Jernej Videtič, the EU’s Head of Delegation in Guyana.

The release said that the Agreement assures EU backing for the implementation of Guyana’s development strategies and policies. It will also aid the operations of, and improve the institutional capacity within, the NAO Task Force in the Ministry of Finance for the efficient planning, execution and monitoring of development projects and programmes financed by the EU.

The TCF will be used for  short and long term technical assistance, policy advice and studies as needed in the programming, preparation or implementation of actions, as well as for audits and evaluation and to support the country’s public financial management reform agenda.

Minister of Finance, Winston Jordan (left) and EU Ambassador Jernej Videtič shaking hands on the pact. (Ministry of Finance photo)

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