THE Board of Directors of the Caribbean Development Bank (CDB) have approved a grant of US$295,000 to support the Government of Guyana in developing a framework, which will guide the development and implementation of measures to adapt to the impact of climate change on the agriculture sector in the country.

In Guyana, the agriculture sector is a significant contributor to the gross domestic product (GDP), and also employs a large portion of the population, CDB said in a release. Climate change can have a significant effect on the sector, as most agricultural production is concentrated along the coastal plains which are on average 1.4 metres below sea level at high tide. Rising sea levels, increased in the intensity and frequency of rainfall and higher temperatures associated with climate change are already negatively impacting agricultural production. This technical assistance project will allow the Government to identify areas that are the most vulnerable to climate change and to adopt new climate-smart agricultural practices.

“The project will help the Government to identify specific crops and crop varieties that are most suited to particular regions, as well as activities that are specific to these regions that can be implemented to adapt to the effects of climate change. This will assist the Government in better planning investment programmes in the agriculture sector,” said Deidre Clarendon, Division Chief, Social Sector Division in the CDB.
Findings from research completed under the project will be used to support capacity-building in Guyana and other CDB-Borrowing Member Countries. Once completed, it is expected that the results of the project will be shared through a regional knowledge dissemination workshop, which will bring together agriculture stakeholders from across the region. The project is scheduled to be implemented over a period of 16 months. It is consistent with CDB’s strategic objective of supporting inclusive sustainable growth and development, as well as the Bank’s corporate priority of supporting agriculture and rural development.

The Caribbean Development Bank is a regional financial institution established in 1970 for the purpose of contributing to the harmonious economic growth and development of its Borrowing Member Countries (BMCs).
In addition to the 19 BMCs, CDB’s membership includes four regional non-borrowing members – Brazil, Colombia, Mexico and Venezuela and five non-regional, non-borrowing members; i.e., Canada, China, Germany, Italy, and the United Kingdom. CDB’s total assets as at December 31, 2016 are USD2.89 billion (bn). These include USD1.59bn of Ordinary Capital Resources and USD1.29bn of Special Funds. The Bank is rated Aa1 Stable with Moody’s and AA+ Stable with Standard and Poor’s and Fitch. Read more at caribank.org.