Speaking to the media at the LEAP Boardroom yesterday, Chairman of the LEAP Advisory Committee, Mr. Leonard Forde assured the media at a press briefing of the development that government had endorsed a proposal for the continuing of LEAP.

An agreement signed by the Government with the European Commission (EC) to establish the Linden Economic Advancement Fund (LEAF) for loan approvals and disbursements came to an end on Tuesday, March 31.

The suggestion is that the successor organisation to LEAP be named the Guyana Enterprise Corporation and is to be headquartered in Region 10 and will be mandated to carry out the activities and provide those services of the LEAP programme which had been retained, inclusive of the provision of credit services.

Forde said the Government of Guyana has acknowledged the success of the LEAP during the 3-1/2 years of operation and has stated its appreciation for the work of the management, staff and especially the clients in Region 10 who have to date repaid GYD305M to sustain the revolving fund. For this Forde said that the private sector in Region 10 has contributed in a rich portfolio which is assisting the diversity of the economic base of the region. In a statement read by Forde it was mentioned that after a brief period of review, it is the Government of Guyana’s intention to put the necessary arrangements to continue micro and small credit facilities to Region 10, from the proceeds of the repayments of the LEAP Loans. Repayments of loans now in circulation will continue through this period, he added.