Over $70B invested in hinterland development since 2020

Over $70 billion has been invested in the development of Guyana’s hinterland regions since the return of the PPP/C Administration in 2020.

This was revealed by the Senior Minister in the Office of the President with responsibility for Finance and Public Service, Dr Ashni Singh, during a leadership training session for Amerindian village councils earlier this week.

The funds were channelled through various government initiatives, including the Low Carbon Development Strategy (LCDS), presidential grants, and allocations from the Ministry of Amerindian Affairs.

“Since we came back into office a total of over $70 billion have been spent on the hinterland on a wide range of initiatives like roads, drainage, and irrigation, the land titling programme, among a plethora of other initiatives,” Minister Singh pointed out.

Under the Low Carbon Development Strategy (LCDS), approximately $9 billion was disbursed to Amerindian villages during the first two years of the PPP/C Administration.

These funds support initiatives such as cattle and chicken rearing, industrial arts projects, the emergence of tourism products, and logging among others.

“In the first year, we transferred 15 per cent and in the second year, we transferred 26.5 per cent. In total during those two years, over $9 billion was deposited into our Amerindian villages to benefit those communities and to finance the implementation of village sustainability plans,” the senior minister stated.

One of the government’s primary objectives under the LCDS is to enable every Indigenous village to establish projects that build sustainable economies, addressing the specific needs of their residents.

The first iteration of the LCDS, launched during the PPP/C Administration in 2009, facilitated bilateral arrangements with Norway, implementing several initiatives to benefit Amerindian communities.

Upon returning to office in 2020, the government introduced the enhanced LCDS 2030.

This updated framework enabled Guyana to secure jurisdictional certification of its carbon credits, facilitating participation in the compliance market where regulated entities, such as airlines can purchase carbon credits.

Notably, the LCDS 2030 has facilitated a landmark transaction, with over 50 per cent of Guyana’s carbon credits sold for US$750 million over 50 years, further supporting the country’s environmental and economic goals.