Approximately 4,300 farmers countrywide stand to benefit from a US $18 million financing agreement for agricultural and infrastructure development.
The agreement was signed Wednesday at the Ministry of Finance between the government and the CARICOM Development Fund (CDF).
The Ministry of Finance in a press statement on the signing said forty percent of the beneficiaries will be youth and women.
Further, the programme will boost the local agriculture sector in the form of support for compliance with food safety, sanitary and phytosanitary standards.
Minister within the Office of the Presidency with responsibility for Finance – Dr. Ashni Singh said agriculture is a pillar of the country’s non-oil economy and it is anticipated that in the future – agriculture will remain an important source of economic growth and an important contributor to livelihoods – particularly in rural and hinterland livelihoods.
Chief Executive Officer of the Caribbean Development Fund – Mr. Rodinald Soomer said the funding is a bold and strategic investment in the fulfilment of CARICOM and Guyana’s shared vision for a resilient, productive, and inclusive agriculture sector that not only feeds the nation but nourishes the region and reinforces Guyana’s leadership role in advancing food nutrition security in CARICOM.