A team of officials from the Extractive Industries Transparency Initiative (EITI) of the Inter-American Development Bank (IDB), on Wednesday met with Minister of State, Joseph Harmon for an exploratory meeting, which was also attended by Natural Resources Minister, Raphael Trotman and Presidential Advisor on Petroleum, Dr Jan Mangal.
The team is exploring the possible roles that the IDB could play in supporting Guyana’s emerging oil and gas sector and included the IDB Representative in Guyana, Sophie Makonnen, Lead Oil and Gas Specialist in the Energy Division, Ramon Espinasa, Economist- Energy, Lenin Balza and Consultant in the Energy Division of the Infrastructure and Environment Section, Carlos Sucre.
During the meeting, Minister Harmon said that he and Minister Trotman are both members of a team appointed by President David Granger to advise the Cabinet on matters related to this sector. The Minister assured the IDB team that the Government is confident that their support could benefit the development of policies in the sector.
Meanwhile, Espinasa advised the ministers that it is essential for the Government to determine how it wants to manage the resources, and that it must ensure contracts are well drafted to ensure the best possible deal for Guyana. “We are here to support with whatever you need, most probably with what we call technical assistance, and this is concessionary support, and eventually, if that is the case, a loan of different amounts for creating the proper institutions,” he said.
Caption: From left: Dr, Jan Mangal, Natural Resources Minister Raphael Trotman, Minister of State, Joseph Harmon, and the IDB team led by Representative in Guyana, Sophie Makonnen, Ramon Espinasa, Lenin Balza and Carlos Sucre