– VP Jagdeo announces digital banking rollout for hinterland communities
THE government is set to increase the value of contracts that can be awarded directly to communities from G$5 million to G$30 million, Vice-President Dr Bharrat Jagdeo announced, in a move aimed at significantly expanding hinterland participation in national development projects.
Jagdeo made the announcement on Tuesday during the National Toshaos Council Conference, where he said the increased procurement threshold would allow villages to undertake larger projects and benefit more directly from government investments.
“We will raise the limit at the tender board for communities from $5 million to $30 million. We will get this done before you leave, so that we can give to the village a contract of up to $30 million,” Jagdeo said.
He said the change would significantly increase the level of community participation in development.
The Vice-President was speaking against the backdrop of the Government’s allocation of G$10 billion this year for hinterland road infrastructure.
While some of the funds have already been committed to major projects, Jagdeo said the increased contracting limit would create greater opportunities for communities to participate in the execution of projects financed through the allocation.
Major road projects already earmarked for funding include the continued construction of the road linking Moruca to Kwebanna in Region One, improvements to the Mabaruma-Wauna road network and upgrades to key roads in Region Nine.
The new procurement threshold is expected to give hinterland communities greater responsibility in implementing development works while allowing more government spending to circulate directly within local economies.
Digital banking initiative planned for hinterland
Jagdeo also announced plans to expand financial inclusion in hinterland and Amerindian communities through a digital payment system linked directly to bank accounts.
The initiative is expected to allow residents to conduct transactions using QR codes on mobile phones, reducing dependence on cash and the need to travel frequently to urban centres to access banking services.
The Vice-President said the Government is working with financial institutions and an Indian technology partner that has implemented a similar system serving more than 1.4 billion people in India.
Under the planned system, residents would be able to open and use bank accounts, receive payments, access loans and conduct digital transactions.
“This will be a game changer for people who live in the hinterland. You can do everything through your bank account,” Jagdeo said.
Government grants and other payments could be deposited directly into residents’ accounts, while vendors would be equipped to accept QR code payments.
Jagdeo said the initiative is part of broader efforts to improve financial access and reduce the barriers faced by residents in remote communities.
He noted that many hinterland communities already have access to Starlink internet services, while efforts are continuing to improve broader connectivity.
The two initiatives, greater community access to government contracts and expanded digital financial services, form part of the Government’s wider push to increase economic participation, improve access to services and give hinterland communities a more direct role in development.
