Guyana, CARICOM Development Fund ink US$18 million agreement

See below the full statement issued by the Ministry of Finance:

The Government of Guyana and the CARICOM (Caribbean Community) Development Fund (CDF) yesterday signed a US$18 million financing agreement, to kickstart the Agricultural and Infrastructural Development Programme (AIDP) which will see over 4,300 farmers across the ten regions of Guyana benefitting, with forty percent of the beneficiaries being women and youth. The programme will allow for a further boost to Guyana’s agriculture sector in the form of support for compliance with food safety, sanitary and phytosanitary standards in the sector. The agreement was signed at the Ministry of Finance in the presence of representatives of the Ministries of Agriculture and Finance. 

Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni Singh, who signed on behalf of Government, while thanking the CDF for its support over the years noted that Guyana is proud to be a founding member of the CDF and to have benefited from the Fund’s activities over the years. 

“As a Government, led by His Excellency President Irfaan Ali, we recognize the importance of a strong and competitive non-oil economy, and I want to assure you that we consider agriculture and agricultural products to be a principal pillar of our non-oil economy, and we anticipate that long into the future, agriculture will remain an important source of economic growth and an important contributor to livelihoods, in particular rural and hinterland livelihoods, “ Dr. Singh explained to CDF’s CEO. 

He added that Guyana will long maintain and further enhance its position in relation to the achievement of food security for the Caribbean region more broadly, noting that this project and others like it, have a very important role to play in ensuring the country realises this achievement. 

Dr. Singh also outlined various agricultural projects supported by the CDF over the years, including farm-to market roads, highlighting that this project, which will be implemented by the Ministry of Agriculture under the leadership of Minister of Agriculture Zulfikar Mustapha, also aligns closely with Guyana’s and the CARICOM Region’s food security agenda. 

“This project is in a sector that is extremely important and it aligns closely with our national development priorities, and with the regional agenda on food security,” he concluded. 

Speaking at the signing ceremony, Chief Executive Officer (CEO) of the CDF Mr. Rodinald Soomer said the US$18 million programme is a bold and strategic investment in the fulfilment of CARICOM and Guyana’s shared vision for a resilient, productive and inclusive agricultural sector that not only feeds the nation but nourishes the region and reinforces Guyana’s leadership role in advancing food and nutrition security in CARICOM. 

“This programme is intended to enrich lives, uplift local communities and regions, and create new economic opportunities for producers and processors of coconuts, cocoa, coffee, peanuts, pigs and pork products, honey and associated by-products and vegetables,” he explained. 

The CEO added that under the AIDP, the foundation for a safer, more competitive agricultural sector will be laid, with the construction of a modern swine abattoir, 13 new or upgraded agro-processing facilities, and eight enhanced surveillance outposts to enable officers to execute their duties under conditions which are more conducive and should yield better results in combating the prevalence of the carambola fruit fly. 

With President Irfaan Ali being CARICOM’s lead representative for agriculture in the region, the project’s proposed activities have notably satisfied several aspects of CARICOM’s goal of reducing the region’s food import bill, as well as in the areas of food and nutrition security, implementation and operationalisation of sanitary and phytosanitary- related policies, and increased production and climate smart agriculture. 

The program will contribute to the Government’ s broader diversification strategy including through the further development in agriculture, one of the country’s main non-oil sectors. With most agriculture concentrated on the coast facing challenges such as climate change risks and reduced availability of water and suitable land, Guyana’s Ministry of Agriculture aims to increase production and value addition in selected commodities. Through projects such as this, the Ministry will be in a stronger position to propose policies and investments that generate the highest return for the country, in line with Guyana’s National Strategy for Agriculture (2020 – 2030).