Caretaker Govt says release of US$50M based on Guyana reaching forest targets

…achieved between 2010-2015 under PPP regimes

Following the release of US$50 million in funds earmarked for Guyana by Norway, the Government has noted that the release of the funds was based on the country having reached its low deforestation targets.

This was explained by the Natural Resources Ministry in a statement on Wednesday, in which it expressed pleasure at the release of the funds. The Ministry also noted that the sum was the final instalment on the 2009 Guyana Reducing Emissions from Deforestation and forest Degradation (REDD+) Investment Fund pledge.
The funds’ release came after an agreement was made on the margins of the United Nations Climate Summit in New York between Guyana’s representative, Dawn Hastings-Williams and Norway’s Minister for Climate and Environment, Ola Elvestuen on Monday.
“Both Ministers agreed that in accordance with the bilateral agreement between the two countries, Guyana has met its commitments and, therefore, Norway would release the final payments,” the Ministry said.
Guyana received commendations from Norway for its continued low deforestation rates and its forest governance. It is understood that the disbursement of the monies will be made to the Guyana REDD+ Investment Fund (GRIF) administered by the World Bank.
Guyana’s contemporary Green State Development Strategy (GSDS) was based on the model provided by the Low Carbon Development Strategy that was initiated by the former People’s Progressive Party/Civic (PPP/C) Administration.
It is a framework that is supposed to incorporate economic development programmes with strategies to promote the fight against global warming. Along the way, these programmes are supposed to be funded from the GRIF.
Guyana has always had a track record of low deforestation rates, a fact that led to the actual setting-up of the GRIF in the first place under the previous Government. In fact, a study done by the Guyana Forestry Commission (GFC) back in 2011 had found that the deforestation rates were a mere 0.06 per cent for 2009 to 2010.
While this miniscule deforestation rate was attributed primarily to mining activities, it has been acknowledged that mining is a crucial part of Guyana’s economy, representing 21 per cent of Gross Domestic Product (GDP) in 2012.
At present, however, the accessing and sourcing of money from the GRIF will be complicated owing to the current political climate. It has now been over nine months since a No-Confidence Motion was passed against the coalition Government. The Constitution of Guyana stipulates that elections must be held within three months of the passage of such a motion.
The constitutional deadline for holding elections, as set out by the Caribbean Court of Justice (CCJ), had expired as of September 18. When it made its June 18 ruling on the no-confidence cases, the CCJ had said that the effects of the No- Confidence Motion were on pause while the cases were being litigated.
That process, CCJ President Adrian Saunders had clearly said, was no longer on pause following the Court’s June 18, 2019 ruling, which upheld the validity of the No-Confidence Motion and thus triggered the need for fresh elections.
In keeping with the constitutional three months’ provision once a No-Confidence Motion is passed, this would mean that General and Regional Elections should be held on or before September 18, 2019.
An election was never held although President David Granger on Wednesday announced a date for the “earliest possible” holding of elections. He stopped short of naming an actual election date, a point referenced by the parliamentary Opposition.