US$7.1M Basic Needs Trust Fund launched

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The US$7.1 million seventh cycle of the basic needs trust fund was today launched in the presence of the Caribbean Development Bank President and Finance Minister Dr.  Ashni Singh.

 

The Trust Fund will address issues of unemployment, citizen security and climate proofing social and economic infrastructure.

 

According to CDB President Dr. William Warren Smith, the approach to skills training will be much more focused on addressing the lack of qualifications and skills in the poorest households.

 

He said it will also be geared towards meeting the needs of the labour market.

 

Also noting the importance of meeting the needs for skills and employment, Finance Minister Dr. Ashni Singh said these are two areas that government takes very seriously.

 

Guyana will receive 12 percent of this cycle of BNTF seven or US$6.1M; the remainder comes from government as counterpart financing.

 

Over the years Guyana has benefitted from about 11 percent of grant resources of the CDB. [Delicia Fletcher]