-but money available for various projects

THE Ministry of Finance has pointed out that the Islamic Development Bank (IsDB) has made available US$900M for Guyana to burrow, pointing out that Guyana has not received that sum from the bank as was reported by some media houses.

The ministry in a release said Finance Minister Winston Jordan, in his speech to the 43rd Annual Meeting of the IsDB Group, was clear in his identification of the named sum.
During the period November 27-29, 2017, the IsDB mounted a mission to Guyana to develop a medium term work plan for the period 2018-2022. That work plan outlines a pipeline of projects that the bank can support over the next five years.

The potential areas of collaboration between the bank and Guyana cover several development sectors including agriculture, banking and finance, human development, energy and rural development.

The current package of potential projects, consisting of proposed grant and loan operations is valued at approximately US$900M. The government is currently in the process of designing projects to commence accessing some portions of the IsDB resources.