CDB approves US$194M programme of assistance for Guyana
BRIDGETOWN, Barbados – The Board of Directors of the Caribbean Development Bank (CDB) has approved a country strategy for the Cooperative Republic of Guyana for the period 2017 to 2021. The programme of assistance will drive social and economic development; support environmental sustainability; and promote good governance in Guyana.
The strategy will be supported by a proposed resource envelope of US$194M. This includes Guyana’s allocation of US$65M from the United Kingdom Caribbean Infrastructure Partnership Fund (UKCIF) and resources from CDB’s Special Development Fund (Unified).
“We are pleased to be supporting the Government of Guyana in accelerating poverty reduction, and inclusive, sustainable economic growth. We look forward to working together with our country stakeholders to implement this results-focused programme of assistance,” said Dr. Justin Ram, Director of Economics, CDB.
[su_box title=”Caribbean Development Bank” style=”soft” box_color=”#54c0f0″]The Caribbean Development Bank (CDB), is a regional financial institution which was established by an Agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into force on January 26, 1970. The Bank came into existence for the purpose of contributing to the harmonious economic growth and development of the member countries in the Caribbean and promoting economic cooperation and integration among them, having special and urgent regard to the needs of the less developed members of the region (Article 1 of the Agreement establishing CDB). In the Revised Treaty of Chaguaramas, the CDB is recognised as and Associate Institution of CARICOM[/su_box]
The country strategy is designed to help Guyana achieve five key development outcomes:
- increased competitiveness and productivity;
- improved quality and access to education and training;
- strengthened social protection;
- reduced vulnerability to natural disasters; and
- improved governance and development planning.
Each intervention delivered under the country strategy will include gender equality, regional cooperation and integration, as well as energy and citizen security considerations.
The programme of assistance responds to Guyana’s development priorities, and builds on the Government’s “Vision 2020”, which articulates a national goal of “sustainable socioeconomic development, good governance and human safety within a green economy.”
The approved strategy aligns with CDB’s strategic objectives of supporting inclusive and sustainable growth and development, and promoting good governance. It also takes into account the Bank’s cross-cutting themes of gender equality, regional cooperation and integration, and energy security. (CDB Press Release)