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IDB & AED to raise Guyana's export growth rate
08 Dec '07
2 min read
The Inter-American Development Bank announced the approval of a US$20.9 million financing to Guyana to support the government efforts to promote the diversification of the country's agricultural export.
The Agricultural Export Diversification Program (AED) aims to increase Guyana's export growth rate and reduce its volatility. The program comprises four main components: promotion of private sector entrepreneurship in agribusiness; improving agribusiness export and facilitation services; strengthening agricultural health and food safety services; and rehabilitation of drainage and irrigation systems.
The Program should increase non-traditional agricultural exports from aquaculture, fruits and vegetables, and livestock sub-sectors; facilitate greater market access for Guyanese exports increase private investment in non-traditional agribusiness sector; enhance food safety; and increase agricultural productivity through better technology and health services.
The program will benefit 12,400 rural households, 1,630 farmers trained in good agricultural practices, 10 agro-processors, 100 agricultural technology educators, 170 technicians trained in GLP, 40 officers from research and transfer of technology institutions, and domestic consumers of fruit, vegetable and meat products.
"To promote agricultural export diversification requires public interventions to improve the business climate, public-private partnerships, substantial investments to remove constraints faced by each cluster, enhanced public services, and strong coordination among all stakeholders", said IDB Team Leader Geoffrey Cannock.
"The Program proposes to focus investments in selected clusters and to set up an institutional mechanism to allow the government to support the removal of these constraints by fostering private sector participation in each export cluster", he added.
The Ministry of Agriculture will carry out the project. The IDB will finance up to US$20.9 million: US$10,450,000 comes from the Bank's Ordinary Capital, and US$10,450,000 from the Fund for Special Operations.
The Agricultural Export Diversification Program (AED) aims to increase Guyana's export growth rate and reduce its volatility. The program comprises four main components: promotion of private sector entrepreneurship in agribusiness; improving agribusiness export and facilitation services; strengthening agricultural health and food safety services; and rehabilitation of drainage and irrigation systems.
The Program should increase non-traditional agricultural exports from aquaculture, fruits and vegetables, and livestock sub-sectors; facilitate greater market access for Guyanese exports increase private investment in non-traditional agribusiness sector; enhance food safety; and increase agricultural productivity through better technology and health services.
The program will benefit 12,400 rural households, 1,630 farmers trained in good agricultural practices, 10 agro-processors, 100 agricultural technology educators, 170 technicians trained in GLP, 40 officers from research and transfer of technology institutions, and domestic consumers of fruit, vegetable and meat products.
"To promote agricultural export diversification requires public interventions to improve the business climate, public-private partnerships, substantial investments to remove constraints faced by each cluster, enhanced public services, and strong coordination among all stakeholders", said IDB Team Leader Geoffrey Cannock.
"The Program proposes to focus investments in selected clusters and to set up an institutional mechanism to allow the government to support the removal of these constraints by fostering private sector participation in each export cluster", he added.
The Ministry of Agriculture will carry out the project. The IDB will finance up to US$20.9 million: US$10,450,000 comes from the Bank's Ordinary Capital, and US$10,450,000 from the Fund for Special Operations.
Inter-American Development Bank
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