Guyana, IDB ink US$40M loan agreements -to boost work of Gov’t ministries
Finance Minister Winston Jordan and IDB President, Luis Alberto Moreno, signing the loan agreements at the headquarters of the IDB in Washington, D.C. on Tuesday
Finance Minister Winston Jordan and IDB President, Luis Alberto Moreno, signing the loan agreements at the headquarters of the IDB in Washington, D.C. on Tuesday

FOUR loan agreements to secure developmental resources valued at US$40M, were signed on Tuesday between Guyana and the Inter-American Development Bank (IDB). This is according to the Ministry of Finance in a statement which indicated that the resources will be used to finance key initiatives within the Legal Affairs, Business, Agriculture and Public Health Ministries. The agreements were signed by Minister of Finance, Winston Jordan and President of the IDB, Luis Alberto Moreno, at the Headquarters of the IDB in Washington, D.C.
According to the ministry, the loan resources are intended to support Government’s developmental agenda of promoting investment; improving connectivity throughout Guyana; diversifying the economy; and providing citizens with quality healthcare and social services.
The ministry said that the inking of these agreements is yet another demonstration of the robust relationship shared between the Government of Guyana and the IDB.
“The IDB, Guyana’s main development and multilateral partner, plays a critical role in helping Guyana to access a wide range of concessional resources from other donor countries and agencies,” the statement read.
Agriculture
The Agriculture Ministry will benefit from a US$15M Sustainable Agricultural Development Programme, which the ministry said, will aid in the country’s focus on diversifying the agricultural sector and improving its competitiveness and viability.
The ministry noted that the loan seeks to increase productivity of the agricultural sector, while maintaining sustainable and climate-resilient use of natural resources in Guyana.
“Specifically, this programme is aimed at producing high-quality data for the agricultural sector; increasing productivity, especially for medium and small farmers; and increasing sanitary and phyto-sanitary (SPS) standards and access to meat-processing facilities,” the statement read.
Further, it is anticipated that higher productivity will also contribute to reduced pressure on forests and fragile ecosystems, and at the same time, increase incomes for small and medium-sized farmers.
Business
For business, a US$9M loan is programmed to support economic diversification and exports through enhancement of the National Quality Infrastructure (NQI) and through a National Export and Investment Promotion Strategy.
The project, according to the Finance Ministry, will seek to enhance the capacity of the NQI, improve facilities for the NQI and enhance the capability of GOINVEST for export and investment promotion.
Additionally, the financial agency noted that the project will seek to enhance the ability of Guyana to connect with regional and global value chains through the promotion of exports and foreign direct investment, particularly agri-business.
Legal Affairs
In this area, the Ministry of Legal Affairs is expected to benefit from a US$8M loan, which will provide support for the Criminal Justice System. The statement pointed out that it is anticipated that through this project, there will be a significant reduction of high concentrations of prison populations in Guyana.
The intent, according to the ministry, is to reduce the use of pre-trial detention of persons accused of minor, non-violent offences by aggressively promoting the use of alternative sentencing options such as probation, community service, restitution and fines.
Additionally, this intervention seeks to ensure that public institutions responsible for the administration of justice are effective, transparent and accountable.
Public Health
To provide support to improve maternal and child health, the Ministry of Public Health will benefit from the US$8m loan. This project, the ministry said, will contribute to the reduction of maternal, perinatal and neonatal deaths in Guyana.
Additionally, it will seek to increase access to and use of reproductive, maternal and neonatal health services, and improve the quality of those services.
According to the ministry, in addition to its own lending window, the IDB is currently involved in an innovative blending of grants and loans with the European Union in two projects, valued over US$96 million.
Additionally, the bank is working with Guyana as the Implementing Partner in some of Guyana’s programmes under the Guyana- Norway GRIF Scheme.
The ministry noted that the IDB Country Strategy with Guyana for the period 2017 – 2021 is currently under preparation and will see further collaboration between this country and the bank, as the former seeks to advance itself along a “green trajectory.”

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