[www.inewsguyana.com] – The Caribbean Development Fund has approved US$8M in contracts for the rehabilitation of three roads in three different regions in Guyana. These are the Parika-Ruby road in Region Three, Laluni in Region Four and Onverwagt in Region Five.
Minister of Agriculture Dr. Leslie Ramsammy on Wednesday witnessed the signing of the contracts for the design and supervision of the three roads in the Conference Room of the Ministry at Regent and Vlissengen Road.
SRK Engineering was awarded the contract following a tender and evaluation process. This contractor is expected to start the process immediately.
He must provide the ministry with an inception report in a week and within the next 75 days with the entire roads design period, following which the ministry will advertise for contractors to complete the physical road works.
Construction on the roads is expected to commence as soon as April 2014.
Guyana is the first country to benefit from this Caribbean Development Fund which was established under Article 158 of the Revised Treaty of Chaguaramas to provide financial or technical assistance to disadvantaged countries, regions and sectors.
All member states that signed on to the Caricom Single Market and Economy (CSME) contributed to the capital of the fund on the basis of a formula agreed on by the Heads of Government.
The Fund is currently capitalised at US$79.9M and whilst all members of the CSME contributing to the CDF are eligible to receive financial and technical assistance support from the fund, only the designated disadvantaged countries – the LDCs (OECS and Belize) and Guyana will have access to resources during this first contribution cycle.