The Guyanese Govt. Requests US$1.8M IDB Loan To Build Strategy For Economic Transformation With Oil Wealth

• The Guyanese Government has approached the Inter-American Development Bank (IDB) for a loan totalling US$1,817,764 to support the development, and implementation of a Medium-Term Development Strategy which will leverage the country’s emerging oil and gas revenues. The strategy would be used to grow investment, increase employment and strengthen the economic resilience of the country.
• According to the loan documents seen by Kaieteur News, the funding would be spent to: strengthen the technical capacity of the government to lead economic transformation in Guyana; and to achieve economic diversification and mid-term development strategy.
• It is expected to include a forum for infrastructure opportunities, targeted investor workshops to assist in structuring specific Public Private Partnership (PPP) projects, public consultation, and awareness building through strategic communications to investors, stakeholders and the general public will be held.
• There will also be several activities, such as the engagement of a strategic advisor on economic development, to facilitate consultations and provide insight into success stories on economic diversification, amongst others.

(Source: Kaieteur News)