‘El Dorado of crops’ – Islamic Bank says after tour of Soya Bean/Corn farm
On Monday a team of officials from the Islamic Development Bank (IsDB) headed by its President, Dr. Muhammad Al-Jasser toured the Tacama Gold Incorporated’s corn and soya bean project in Region 10.
Finance Minister Ashni Singh and Agriculture Minister Zulfikar Mustapha accompanied the officials and highlighted the government’s efforts to promote a strong non-oil economy.
Following the tour, IsDB wrote on their Facebook page that “Guyana is aspiring to become an El Dorado of crops and halal meat production and export.”
It said: “The country is now successfully producing the strategic crops that are necessary for livestock and poultry breeding.”
Meanwhile, in a statement, the Ministry of Finance noted that Guyana cultivated over 3000 acres of soya beans and over 1200 acres of corn in the first half of 2023.
Earlier this month President Irfaan Ali also indicated that the Government is committed to ensuring that by the end of 2026, Guyana will have 50,000 acres of land cultivated in corn and soya.
Guyana’s Head of State had indicated too that in another three years, Guyana’s burgeoning corn and soya bean industry will see over US$40 million in investments that will help catapult the country into self-sufficiency and aid in realising the Caribbean region’s objective of reducing its food import bill by 25% by 2025.
As part of the Government’s crucial role in support of the project, the administration committed over $1.2 billion towards infrastructural development in the Tacama area, Berbice River, the Ministry stated.
Further, the Government has provided improved access to the area through the construction of 40 kilometres of road and the remaining seven kilometres scheduled for completion in 2023. A further investment was made by the Government in a drying and storage facility for corn and soya beans this year to make it the first such facility in Guyana. $150 million was also provided in the Government’s 2023 Budget for the construction of a wharf at Tacama as part of improving riverain access to the area.
Guyana’s corn and soya bean project is a collaborative effort between the Government and a consortium of private developers namely Guyana Stockfeed Limited, Edun Farms, Bounty Farm Limited, Royal Chicken, SBM Wood, Dubulay Ranch, and N F Agriculture, a Brazilian company.