EU Explore $639M Funding to Boost Guyana Economy

Dr. Ashni Singh, the Senior Finance Minister, recently met with Dr. Fernando Ponz Cantó, the European Union (EU) Ambassador to Guyana, at the Arthur Chung Convention Centre, where the two officials co-chaired an important Policy Dialogue on EU-Guyana Development Cooperation. 

With discussions centered on the EU’s development cooperation programme with Guyana, the conference was a successful start toward additional collaboration accomplishments for the benefit of Guyana’s citizens. The EU and Guyana are developing a closer relationship based on shared values, goals, and interests in all areas of mutual concern. 

Minister Singh expressed the Government’s deep gratitude to the EU for its long-term support to Guyana during his remarks at the meeting. He also expressed optimism that Guyana and the EU’s strong connection will continue to expand in the coming years as Guyana enters a new phase in its economic history. 

As Guyana pursues its development agenda as a new and growing oil and gas producer, Ambassador Fernando Ponz Cantó pledged the European Union’s sustained commitment to the EU-Guyana collaboration. The Ambassador recalled the Guyanese people’s determination and perseverance in upholding democratic values and the rule of law. He praised the Government and the National Authorising Officer (NAO) in particular for resuming this bilateral policy dialogue, which had been halted in 2020 due to the political crisis and related events, and which is a critical component of the full normalization of cooperation, including budget support. 

Minister Singh went on to express the government’s gratitude for the EU budget support programme. 

The two delegations discussed a wide range of topics, including the government’s ongoing investment programme in the sea and river defense sector, including mangroves. Both were major pillars of EU support in previous decades. 

Dr. Ashni Singh and the EU Ambassador also had a preliminary conversation about a new Technical Cooperation Facility worth €2.73 million, through which Guyana will get assistance in implementing and developing policies to minimize the effects of the COVID-19 pandemic. Health, livelihood development, biodiversity, forestry, governance, and public financial management are all possible areas for assistance. 

Mr. Karel Lizerot, Head of Cooperation, and other members of the EU Delegation were also on the EU team, while Mr. Tarachand Balgobin, Deputy National Authorising Officer (DNAO), was on the Ministry of Finance’s team.