For implementation of BNTF’s 10th cycle, $600M approved

The sum of $600M was approved by the Committee of Supply has approved for the implementation of the Caribbean Development Bank’s (CDB) Basic Needs Trust Fund (BNTF) 10^th Cycle here in Guyana.

It was disclosed that the sum was approved during the consideration of the national budget estimates on Thursday.

Finance Minister Dr Ashni Singh, in providing an overview of the projects to be executed this year, noted that the BNTF has a reputation for executing excellent work in communities and this year is no different.

Minister Singh explained that the approved sums will be used for the construction of educational facilities, including nursery, primary, and special schools, as well as early childhood facilities in vulnerable communities.

As such, the BNTF will also undertake rehabilitation of community roads, livelihood enhancement projects, and skills training programmes, as well as the construction of water supply systems in Nappi, Warawatta, Kariako, Kurukubaru and Surama.

Highlighting the impact of these initiatives on the identified communities, Dr Singh said,“ Of those there is a process because we have to not only identify these projects in consultation with the communities, but we also have to propose these projects to the CDB and they review them.”

Dr Singh announced that an additional $100M was approved for special support to vulnerable communities through community development programmes and projects. The minister noted that the programme is not new and a dedicated three-member committee has been established to ensure its proper implementation.

“We have in fact, put in place an administrative structure which is in the form of a committee which did not exist previously.

“They receive these requests, they examine them, they engage with both the sectorial ministries and also in many cases some of these cases are implemented through NGOs or CSOs,” Dr Singh told the committee.

It was pointed out that  under contributions to local organisations, the Linden Enterprise Network (LEN) received the sum of $50M to continue its mandate of providing financing to small businesses.

The finance minister confirmed that the government is actively engaged in implementing the board of directors of LEN and that a management structure is already in place to manage the facility.