Latest update April 20th, 2024 12:59 AM
Jun 15, 2017 News
Guyana now has access to over $900M which will be used to implement a series of developmental plans and strategies.
This was made possible through the signing of a Technical Cooperation Facility (TCF) and Support Services Agreement for the National Authorizing Officer (NAO), between Finance Minister Winston Jordan and Ambassador Jernej Videtič, EU Head of Delegation in Guyana. The grant is for €4M (approx. $922.8M).
According to a statement from the Ministry of Finance yesterday, the Agreement assures EU support for the implementation of Guyana’s development strategies and policies.
The Finance Ministry said that the Agreement will also support the operations of, and improve the institutional capacity within, the NAO Task Force in the Ministry of Finance, for the efficient planning, implementation and monitoring of development projects and programmes financed by the EU.
The Ministry noted that the TCF will be used to provide short and long term technical assistance, policy advice and studies as needed in the programming, preparation or implementation of action, as well as for audits and evaluation and to support the country’s public financial management (PFM) reform agenda.
The Finance Ministry reminded that Guyana shares a longstanding relationship with the EU and that the Union is the main provider of grant funding to the country.
Since the cooperation between the two countries began in 1976, the EU has committed over €500M.
Where is the BETTER MANAGEMENT/RENEGOTIATION OF THE OIL CONTRACTS you promised Jagdeo?
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