–Private sector stands to benefit from arrangement

GUYANA and Japan signed a Japanese Non-Project Grant-Aid Agreement, valued approximately US$3M, on Monday. It is to provide support for the promotion of the economic and social development of Guyana.
Minister of Foreign Affairs, Ms. Carolyn Rodrigues-Birkett emphasised that the signing demonstrates the support of Japan to the people of Guyana and it is a manifestation of their ever-growing relationship.
“We would certainly like to see more trade from Guyana to Japan, since there has been an increase of trade from there, where almost 90 percent of our vehicles are imported,” she said.
The minister observed that this is not the first agreement through which Japan has provided such resources to this country and she mentioned the New Amsterdam Hospital, the Corriverton Water Supply Project and scholarships, among major projects.
The grant funds will be made available for lending to the private sector and, once the loans would have been repaid to the Government, the resources will then be used for further development in Guyana, Minister Rodrigues-Birkett explained.
Japanese Ambassador Yoshimasa Tezuka confirmed that the Non-Project Grant Aid will be utilised for the importation of products, for example, civil engineering equipment and electrical power machinery, which are necessary to promote development efforts by the Government of Guyana.”
He said the Government of Japan welcomes further opportunities to work with the Government and people of Guyana, all with a view to strengthen the bonds of friendship and mutual understanding which exist between the two countries.
2014 marks 20 years since the first Japan/CARICOM Consultation in 1993 and this is deemed Friendship Year 2014.
Throughout the year, commemorative events will be staged in Japan and CARICOM member countries to enhance Japan-CARICOM relations in diverse fields, such as culture, trade and tourism.

(By Rebecca Ganesh-Ally)