THE Government of Guyana yesterday signed two

agreements with the Caribbean Development Bank (CDB), totalling US $40.3M, one of which is for the seventh cycle of the Basic Needs Trust Fund (BNTF) or BNTF-7, and the other for the bank’s fourth roads project.
The BNTF agreement is valued US $6.154M, of an overall total of US $46M for the region as a whole, of which Guyana is receiving the largest amount.
The BNTF is aimed at meeting essential social sector needs across the region through critical poverty alleviation interventions.
Minister of Finance, Dr. Ashni Singh, in his remarks, lauded the CDB for its role in administering the fund, as well as the contributors, especially Canada, which is the largest donor in recent cycles.
He informed the visiting team from the Bank that the BNTF has had a phenomenal developmental impact on Guyana, especially in terms of infrastructural development and skills training.
Vreed-en-hoop to Parika road
The other agreement that was signed is for a loan to the value of US $34.2M for the execution of the fourth roads project. This loan will see the upgrade of the West Coast Demerara road from Vreed-en-hoop to Parika, Region 3.
This entire project has an estimated cost of US $47M and the government will be providing the funds to cover costs that will not be met under the loan.
The project will consist of several components, including engineering services for project preparation and supervision, road works to improve 30.7 kilometres of highway, highway development and management training, a road safety awareness campaign, and a monitoring and evaluation system, the bank’s website stated.
This project forms part of the government’s ongoing programme to modernise Guyana’s road infrastructure, as well as the institutional framework supporting its management.
Minister Singh explained that government recognises fully the catalytic role that transport infrastructure plays in economic development, and in improving the social conditions in which people live.
“This project is the latest installment in our extensive efforts to upgrade and expand our country’s physical infrastructure and in particular, transport infrastructure,” Minister Singh emphasised.
It is estimated that over 100,000 people will benefit from this upgrade, and Minister Singh disclosed that the necessary work to get this project off the ground is far advanced, and the contract is expected to be awarded by the end of this year.
Vice-President (Operations) of the CDB, Dr. Carla Barnett, said that the bank is currently in talks with regard to its country strategy, which will see the two parties working closely together for the next four years to meet specific developmental goals.
CDB/GoG partnership
Over recent years, Guyana’s partnership with the CDB has derived significant benefits. The Community Roads Improvement Project (CRIP) is a good example, through which community roads are being upgraded in 12 Neighbourhood Democratic Councils (NDCs) across the country, improving the quality of life for people in the targeted areas.
CDB has provided support to the Skeldon Sugar Modernisation Project, the Community Services Enhancement Project (CSEP) and the newer technical and vocational training project that will establish and equip training centres to enhance the skills of young Guyanese.
The support to the Skeldon Project relates specially to the agricultural works, while the CSEP project finances critical infrastructure, including improving access to markets, schools, health centres and other facilities for residents in several regions of Guyana.
In the education sector, the BNTF has constructed two new technical and vocational centres at Mahaica and Leonora, thereby improving significantly Guyana’s capacity to deliver technical and vocational education.
“The bank continues to have phenomenal development impact in Guyana…and we value tremendously the role that the bank is playing,” the minister said.