Expected to ramp up more support for development projects in Guyana:
Georgetown, Ministry of Finance, September 1, 2021: In continuing to advance Guyana's development trajectory, Senior Finance Minister Dr. Ashni Singh is currently attending the Islamic Development Bank (IsDB) Group’s Annual Meetings in Tashkent, Republic of Uzbekistan. Guyana’s delegation attending the meetings also includes First Secretary and Charge d’Affaires at
Guyana’s Embassy in Kuwait, Safraaz Shadood. The meetings, taking place from September 1 to September 4, will see the IsDB’s Boards of Governors and General Assemblies discussing development, economic and financial issues along with institutional matters. Guyana became a member of the IsDB in 2016 making it the 57th country and the second from Latin America after Suriname to join the Bank.
The meetings of the Bank would usually attract over 2000 participants and the IsDB has noted that the Annual Meetings offer an ideal platform for decision-makers to discuss challenges and explore IsDB Group member countries’ economic and developmental opportunities. It was also noted that during the Annual Meetings, ‘participants benefit from various knowledge-sharing and flagship events which feature top-level panelists from governments, international and regional organizations, private sector, academia, and civil society’. Additionally, the Bank pointed out that the knowledge- sharing events programme provides a dynamic platform to discuss economic financial and development issues of current interest to IsDB Group member countries and their partners, while they also aim to encourage discussions and debates, promote partnerships, cooperation, and exchange experiences.
After his Assumption to office in August 2020, President Irfaan Ali met with President of the Islamic Development Bank (IsDB), Dr. Bandar Hajjar, and had discussions on financing for solar energy, agriculture, infrastructure, small and medium-sized enterprises (SME’s) and measures in the fight against COVID-19. Then, in June last, following the unprecedented flooding of several
areas in Guyana, the IsDB committed to mobilizing support for the country in terms of critical intervention measures following another meeting between its President and the Head of State. The IsDB President had assured (following that meeting) that the Bank would make all efforts to support Guyana’s rebuilding efforts and enable more resilient infrastructure.
Earlier this month, the Government applied for financial support from the IsDB for the Hinterland Electrification Programme. It was pointed out that some funding would be used to target the construction and rehabilitation of two small hydropower plants in Lethem Region Nine.