(Georgetown, 21-01-2020) – Guyana’s Natural Resource Fund (NRF) has attained associate membership of the International Forum of Sovereign Wealth Funds (IFSWF); a global network of sovereign wealth funds of more than 30 countries including Singapore, Botswana and Australia.
The IFSWF works to foster good governance, transparency, accountability and prudent investment practices within its members through the application of the Santiago Principles, helps them navigate the complex investment environment through knowledge sharing, and represents the ‘views of members to the wider financial community.’
The NRF was established in 2019 under the Natural Resource Fund Act 2019 and is designed to manage the revenues garnered from Guyana’s petroleum resources for the present and future benefit of the people, and for the sustainable development of the country. The Ministry of Finance has entered into an operational agreement with the Bank of Guyana to manage the Fund.
The achievement of associate membership demonstrates Government’s commitment to transparently manage Guyana’s petroleum revenues.
Read more about the NRF at finance.gov.gy. and at https://www.ifswf.org/members/natural-resource-fund.