The Government of Guyana in collaboration with Demerara Bank Limited (DBL) yesterday officially launched the $900 million revolving fund for the forestry sector, aimed at boosting small- and medium-scale logging operations in a sustainable environment.
The Government of Guyana is contributing $300 million, while DBL will provide the remaining $600 million.
“It is significant that we chose the International Day of Forests 2023 to launch publicly this forestry revolving fund, which was an initiative of President Ali, where he recognized not only the importance of [a] sustainable forest-based industry but also some of the constraints faced by those operating in the sector,” Finance Minister Dr Ashni Singh remarked.
