GAPA joins call for passage of AML/CFT legislation

THE Guyana Agricultural Producers’ Association (GAPA) will meet tomorrow to address the increasing challenges in accessing international financing due to the non-passage of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) (Amendment) Bill.

GAPA President Nigel Dharamlall, who made the announcement, said the delay in enacting the legislation has caused networking through international banks to become more onerous, among other difficulties.
He said: “We have members that benefit both directly and indirectly from other countries, international funding agencies and international non-governmental organisations (NGOs).
“What we have seen is that it is now more difficult to network with these partners through international banks because of Guyana’s failure in being compliant.
“Not only are our business relations with these organisations affected but we have seen the increase in operational costs because of the impact the Bill has on the exchange rates,” Dharamlall lamented.
He explained that the bill’s passage is quintessential to restoring this critical pillar of support for the thousands of farmers that GAPA represents.
Financial assistance
“We work closely with the Ministry of Agriculture and Government but much of our support is foreign to improve our advocacy on behalf of farmers and the financial assistance we can facilitate,” Dharamlall disclosed.
He said, currently, multi-million dollar funding schemes through both Norway and the Government of Japan are stalled as the disbursement agents will only function in an environment that is regionally and internationally compliant.
“The effects of not passing this bill are already being felt,” Dharamlall said, adding: “It is our farmers, the people at the grassroots level who are feeling the squeeze.”
He reiterated sentiments expressed by GAPA when it called for the passage of the bill at the last sitting of Parliament and said: “The agriculture sector is one of Guyana’s main economic pillars and the average hardworking Guyanese man and woman are the ones at the frontline, who will face the repercussions of non-compliance to international standards.”
The GAPA President maintained that reasonable compromise must be the order of the day, to avoid the average Guyanese man and woman, who are working hard to improve their lives, facing unnecessary difficulties.

(By Vanessa Narine)