A CONTRACT for the rehabilitation of three roads in Guyana, being funded by the Caribbean Development Bank (CDB), was signed yesterday at the Ministry of Agriculture boardroom, Regent and Vlissengen Roads, Georgetown.Minister of Agriculture, Dr. Leslie Ramsammy and Permanent Secretary, George Jervis were on hand to ink the document which was awarded to local contractor SRK Engineering.

The Caribbean Development Fund (CDF) has approved US$8M contracts for the rehabilitation of the Parika-Ruby road in Region 3, Laluni in Region 4 and Onverwagt in Region 5.

The contract was signed for the design and supervision of the three roads, following a tender and evaluation process.

Works are expected to start in April, 2014, but the contractor was advised to provide the ministry with an inception report in a week and within the next 75 days with the entire road design period, following which the ministry will advertise for contractors to complete the physical road works.

The CDF is currently capitalised at US$79.9M and while all members of the CSME contributing to the CDF are eligible to receive financial and technical assistance support from the fund, only the designated disadvantaged countries – the LDCs (OECS and Belize) and Guyana will have access to resources during this first contribution cycle.

Guyana is the first country to benefit from this Caribbean Development Fund which was established under Article 158 of the Revised Treaty of Chaguaramas to provide financial or technical assistance to disadvantaged countries, regions and sectors. All member states of the CARICOM Single Market and Economy (CSME) would have contributed to the capital of the fund on the basis of a formula agreed on by the Heads of Government.
Written By Michel Outridge