CDB approves USD194 mn programme of assistance for Guyana

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 USD194 million (mn). This includes Guyana’s allocation of USD65 mn 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.

The country strategy is designed to help Guyana achieve five key development outcomes:

  1. increased competitiveness and productivity;
  2. improved quality and access to education and training;
  3. strengthened social protection;
  4. reduced vulnerability to natural disasters; and
  5. 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.