Guyana, Islamic Bank to partner on renewable energy, housing & Infrastructure

As Guyana works to identify projects for funding from the Islamic Development Bank (IsDB), a Programming Mission from the IsDB visited Guyana during the past week where intense meetings were held from October 31 to November 02.

The Ministry of Finance in a statement said the Mission was aimed at developing a pipeline of potential projects for the medium term 2019 – 2021 that would inform the work programme of the IsDB.

Therefore, discussions were focused on identifying projects and programmes that “seem most likely to have the greatest development impact in Guyana.”

According to the Finance Ministry, the challenges and opportunities to advance Guyana’s development agenda were explored and priorities for action identified.

Healthcare, wastewater treatment, renewable energy, TVET (Technical and Vocational Education Training), housing and infrastructure were among the areas identified for initial consideration in 2019, the Ministry said.

Coordinated by the Ministries of Finance and Business, discussions were held with the Ministries of Public Health, Education, Agriculture, Public Infrastructure, Communities, Social Protection, GoInvest, the Georgetown Chamber of Commerce, and several Commercial Banks.

The IsDB team was led by Regional Manager for Latin America and the Caribbean, Dr. Sobir Komilov and included Saifulla Abid –Senior Country Manager for Guyana IsDB; Hamady Soma Ba – Relationship Manager from the International Islamic Trade Financing Department (ITFC) and Ahmed A Khalid – Regional Head (Asia) of the Islamic Corporation for the Development of the Private Sector (IFC).

There were also representatives from the Public and Private Sectors.

To close the mission, an aide memoir- an informal diplomatic message, was signed between the Government of Guyana and the IsDB Group with both sides agreeing to continue collaborating on the development of the country.