News Room Guyana
Latest News from Guyana Live on E-Networks E1 7PM

Five communities to benefit from US$12.4M funding to resuscitate farming

0

Five previously known farming communities that over time would have ceased this activity today came in for a US$12.43Mr injection aimed at resuscitating farming there.

The communities identified are Mocha/Arcadia, Beterverwagting, Triumph, Buxton, all the East Coast of Demerara and Ithaca in the West Berbice, which were termed as “economically challenged areas”.

The funding is being provided through a blended facility via a grant and a loan from the Caricom Development Fund and the Government of Guyana.

And according to Finance Minister, Winston Jordan, the project not only builds on the overall strategic development of the agriculture sector but provides a much need renaissance for the communities to benefit. He says too, it is also his hope that this project would be as successful as its predecessor, which is one of the reasons Guyana was able to access funding again.

Speaking to the merit of the project was Chief Executive Officer at the Caricom Development Fund (CDF), Mr. Rodinald Soomer says the investment is meant to target 175 farmers in communities where there is high unemployment among youth and women with the projection of eventually impacting 35 thousand persons.

The CEO also explained that this type of cooperation further validates the value of the Caricom integration movement.

Guyana was able to access this funding after having contributed its agreed portion to the CDF of some 786 million dollars.

The Caricom Development Fund says it is providing US$10.4 million and the Guyana government US$2 million towards the project that initially targets 175 farmers.

Leave A Reply

Your email address will not be published.