…under 10th EDF.

THE Government of Guyana yesterday signed a financing agreement with the European Union (EU) that would see Guyana getting € 14.8M under the 10th European Development Fund as budget support for sea and river defence works.

Finance Minister Dr Ashni Singh and Public Works Minister Mr Robeson Benn signed on behalf of the GoG, while EU Ambassador Mr Robert Kopecky signed on behalf of the European Union.
The 10th EDF Financing Agreement builds on previous sea and river defence programmes undertaken by the GoG and the EU. The previous financial commitments made under the 7th, 8th and 9th EDFs have been implemented.
A detailed implementation plan for sea and river defences was developed in 2012 by the Government of Guyana to facilitate progressive adoption and enforcement of the policy by all stakeholders.
Implementation of the plans will focus on a developmental period of three years, with the Works Ministry meeting specified benchmarks. During this time, a number of activities will be pursued with the objective of improving the efficiency and sustainability of the sea and river defence sector.

In order for Guyana to have qualified for financial disbursement under the 10th EDF Financing Agreement, the sea and river defence sector had to have satisfied specific performance criteria in investment and performance targets.

Government continues to invest resources into this sector to protect and maintain the structural integrity of the sea and river defence infrastructure, and has been partnering with the EU to protect and maintain the structural integrity of these systems. Over the past 5 years, GoG has invested in excess of $13.3B into this sector.  Also, Government continues to adopt and place high on its agenda alternative measures that will help to mitigate the effects of emergencies, Minister Singh stated.

The EU’s partnership with GOG in this sector dates back to the 7th EDF Programme signed on February 24 1994, at which time €12M had been committed. A further €20M and €18.018M were committed under the 8th and 9th EDF Programmes respectively.

Overall, the EU has contributed approximately €50 million into the sea and river defence sector towards the construction, rehabilitation and/or maintenance of sea defence structures in Regions 2, 3, 4 and 6.

(By Rebecca Ganesh-Ally)