TRANSACTING business in Port Kaituma, Region One (Barima-Waini) will soon become easier after a multi-purpose complex to house branches of the Guyana Bank for Trade and Industry (GBTI), the Guyana Geology and Mines Commission (GGMC), and the Guyana Gold Board has been completed. Representatives of the aforementioned entities held a meeting with residents of Port Kaituma and its sub-regions on Friday, to update them on the progress of the proposed project, subsequent to which the ceremonial sod-turning exercise was done to commence construction.
Natural Resources and Environment Minister Robert Persaud, speaking on the many developments evident in the region, pointed to the fact that such a project will see better services implemented in the mining community.
Prior to the sod-turning exercise, similar meetings were held to garner the inputs of residents on the proposed establishment of` the three entities.
“The step we are taking here today is testimony to our Government’s and our partners in the private sector’s seriousness about the wellbeing and development of this community and the sector as a whole,” he said.
Speaking on risk factors associated with not having a banking institution in the mining community, Minister Persaud said its implementation will bring financial security to many.
While the GGMC’s and Guyana Gold Board’s services will commence with completion of the building, Region One residents can access banking services, inclusive of ATM and mobile banking, from January 2, 2013, with the establishment of a temporary office.

“What we are seeking to do is to develop a country that does not pose unevenness, but where there is equity in services; and we have been embarking on a policy in ensuring that there is evenhanded development across Guyana,” Minister Persaud said.
This has seen Government working assiduously to ensure that rural and hinterland residents benefit from provision of services that are similar to those enjoyed by coastlanders.

Despite limited resources, annual injection of funds has been increased to all sectors with the aim of bettering the living standards of residents.

However, while much is being done to develop Region One, the Natural Resources Minister called for a more organised approach to development, alluding to the fact that this will also aid in the community advancing at a faster pace. “If we are going to build a modern town, we have to have some level of organization; and at the level of the Cabinet, we have been (giving) this situation some attention,” he said.

This has seen the Ministry of Housing, through the Central Housing and Planning Authority (CH&PA); the Natural Resources Ministry and the Regional Administration looking at alternatives, to implement a programme which will change the outlook of the community.

A call was also made for residents to play their part in ensuring compliance with the rules and regulations governing the mining trade.

This development has also seen the Ministry of Natural Resources injecting $150M into the construction of asphaltic roads in mining communities.

A target of 360,000 ounces of gold is set for this year. However, Port Kaituma, in conjunction with the Guyana Gold and Diamond Miners’ Association (GGDMA), is working to achieve a record of 400,000 ounces.
 
Banking
Chief Executive Officer of the GBTI, John Tracey, lauded the support of the Natural Resources Minister who made the venture possible.  He pointed out that the Bank remains adamant that the support of residents will be favourable.

Prior to the decision to construct a bank in the region, a research was done. According to Tracey,  “We didn’t just wake up one morning and decided to construct another branch. It came about after careful consideration and research conducted in the community and (at) business level,” he said.

GBTI is the second largest banking institution in Guyana. It currently boasts 10 braches countrywide, with assets totalling $80B.

The move came in for high praise from President of the Guyana Women Miners Organisation, Simona Broomes, and from President of the GGDMA, Patrick Harding, who noted that such investment is a plus for the mining industry, which possesses tremendous potential.
Meanwhile, Regional Chairman Paul Pierre, in welcoming the move, pointed to the fact that such an investment would significantly add to the many developments evident in the region. “When one travels though Region One, the massive development in the entire sector is evident… Thus far, the Government has been able to meet the requirements of residents with a limited budget,” he said.

Pierre underscored the importance of development by pointing to the stigma which the region once endured and noting that today the livelihoods of residents have been enhanced tremendously.

The Regional Chairman also took the opportunity to update residents on the feasibility study which is currently being undertaken, which when completed will see a road link from Yarakita to Matarkai.