US$7.96M loan agreement inked for Hinterland sustainable development project

0

The Government of Guyana and the International Fund for Agricultural Development (IFAD) signed an external loan agreement for the financing of the Hinterland Environmental Sustainable Development project, according to GINA.

Minister of State, Joseph Harmon

During a post-Cabinet press briefing today, Minister of State, Joseph Harmon said that the external agreement was submitted to Cabinet by Minister of Finance, Winston Jordan.

Minister Harmon said that Cabinet approved it being laid in the National Assembly in accordance with section 3 (6) of the External Loans Act, Chapter 74:08 in the Laws of Guyana.

The Hinterland Environmental Sustainable Development project will provide for the development of investment plans for the establishment of local value chains, 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 will be executed in all the sub-regions in Region Nine, along with Sub-Region one, Mabaruma and Moruca, Region One and is expected to benefit over 80 Indigenous communities.

GINA said 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.

The project will contribute to the government’s overall objective of reducing poverty, and exclusion and isolation of hinterland communities. It will also be aligned with the government’s National Strategy for Agriculture in Guyana 2013-2020, the Low Carbon Development Strategy (LCDS) and the Food and Nutrition Security 2011-2020 Strategy (FNSS), GINA added.

LEAVE A REPLY

This site uses Akismet to reduce spam. Learn how your comment data is processed.