US$7.96M agreement inked for Hinterland Sustainable Development Project

The Government of Guyana and the International Fund for Agricultural Development (IFAD) signed an external loan agreement for the financing of the Hinterland Environmental Sustainable Development Project.

During a post-Cabinet press briefing on Thursday, Minister of State, Joseph Harmon said that the external agreement was submitted to Cabinet by Minister of Finance, Winston Jordan.

Harmon said Cabinet approved it being laid in the National Assembly in accordance with Section 3 (6) of the External Loans Act, Chapter 74:08 in the Laws of Guyana.

The Hinterland Environmental Sustainable Development Project will provide for the development of investment plans for the establishment of local value chains, the establishment of an investment fund for farmers, the execution of a food and agricultural study in Region One (Barima-Waini), and institutional strengthening.

According to a Government Information Agency (GINA) report, the Project will be executed in all the sub-regions in Region Nine (upper Takutu-Upper Essequibo), along with Sub-Region one, Mabaruma and Moruca, Region One and is expected to benefit over 80 Indigenous communities.