WITH Guyana looking to modernise its agriculture sector and increase its food production, the government has disclosed plans to bridge the financial gaps faced by farmers across the country.

At a press conference held last week, the country’s head of state, Dr. Irfaan Ali said that “focused” programmes will be established to support farmers.

“We are working on bridging the financing gap for low-cost loan programmes that will help rice, poultry and other farmers. Focused programmes to support capital formulation for farmers incentives, tax benefits to facilitate land, acquisition of land and equipment to modernise farms and open up opportunities for higher production and high yield,” he said.

Also, new lands will be made available to increase food production of new high-valued crops, poultry, rice and other subsectors.

“We are opening up new lands; approximately 260 kilometres of farm-to-market access road, fair weather road and all-weather road. We have been able to open up more than 50,000 acres of new land for production,” the president announced.

Agricultural diversification has been an important pillar in pushing the government’s food security agenda, and as such, billions have already been expended over the past four years to improve farm infrastructure.

“We are working towards building resilience in our agriculture. Therefore, we have invested tremendously in the maintenance of drainage and irrigation systems and farm-to-market roads. From 8.4 billion in 2019 to 19.7 billion in 2023. This is to increase investment in drainage and irrigation, a 135 per cent increase,” President Ali said.

Already, an agreement has been made with Demerara Bank Limited to provide loans for poultry farmers across Guyana at an affordable interest rate.

Farmers who wish to access loans, $500,000 or less, can do so at an interest rate of 3.5 per cent.
While loans of between $500,000 – $1 million can be accessed at a four per cent interest rate, loans of between $1 million -$5 million are being offered at a 5.5 per cent interest rate.

The president further highlighted the role Guyana is currently playing as a leader in the Caribbean Community (CARICOM) to address the region’s food import bill and other industry woes.

“Guyana has emerged as a leader in CARICOM, advancing the agri-food system agenda. We are now a leading voice in prioritising food and energy security, and climate mitigation adaptation internationally. We have positioned the agriculture sector as an expanded, diversified, modern, resilient and competitive sector, with a 150 per cent increase in the budgetary allocation, moving from 13.3 billion in 2019 to 33.2 billion in 2023,” he said.

Guyana, he added, has undergone tremendous transformation, and is now renowned for the modernisation, resilience, and diversification of its agriculture sector and food production.

And as the government continues to pour investments into the sector, President Ali disclosed that plans are afoot to ensure that young people and women are included in the agricultural diversification and agricultural plan.