United States providing $297,000 USD Grant to Guyana for EITI candidacy

The United States through the Carter Center would be providing a Grant to the tune of $297,000 USD to facilitate a series of programmes with the Ministry of Natural Resources that will assist Guyana with its compilation and development of an acceptable candidacy submission for the Extractive Industries Transparency Initiative (EITI) Secretariat.

US Ambassador, Perry Holloway speaking today at the Embassy’s location in Georgetown said the grant is for a 12-month programme on “Advancing Transparency and Accountability in Guyana’s Extractive Industries.”

According to Holloway, the significant oil find offshore Guyana has the potential to transform Guyana from one of the poorest countries in the Western Hemisphere to one of the richest, however, he noted that this would entail careful and thoughtful planning by key stakeholders.

Natural Resources Minister, Raphael Trotman during brief remarks said adherence to and implementation of EITI, as part of a menu of good governance measures is important to Guyana’s social and economic development.

He noted that Guyana’s entry into the EITI framework is not only as a result of oil but other resources, which also have to be better managed.

Performing the functions of Prime Minister, Foreign Affairs Minister, Carl Greenidge reiterated that the extractive sector has always played an important role in Guyana’s economics and called for effective and efficient management of these resources.

Jason Calder, Country Representative of the Carter Center said a tripartite Multi-Stakeholder Group, drawing from Government, civil society and the extractive industries is to guide and oversee the EITI process in each country.

The Carter Center’s assistance is intended to build off that which was recently provided by the World Bank and to complement the fruitful collaboration Guyana has already established with the EITI Secretariat in Trinidad and Tobago.