Over 800 carbon-credit funded projects being implemented – Min Sukhai

Over 800 village-led projects are currently being implemented in over 200  Amerindian, hinterland, rural and riverine communities across Guyana.

This is according to the Minister of Amerindian Affairs, Pauline Sukhai.

It is being funded through Guyana’s first-ever, historic multi-year carbon credit agreement with Hess Corporation, which will see the oil company purchasing 2.5 million carbon credits annually for the years 2016-2030.

During her contribution to the ongoing national budget debates, the Amerindian affairs minister informed that 232 Village Councils and Community Development Councils have already withdrawn their funds totaling $3.8 billion.

“And [they] have undertaken 811 projects in the following sectors; Agriculture, including cultivation of crops, shade houses, fishing and livestock rearing,” she relayed in the house.

Villages also established business enterprises to provide internet services, energy sources and transportation services through the acquisition of river transport, off-road vehicles and all-terrain vehicles among others.

They also undertook the construction of eco-lodges, guest houses and other related projects to boost their tourism products while investments were also injected to develop youths and sports.

“They invested in facilities, culture groups development and also investments are being made by Village Councils in infrastructure both social and productive; trails, farm to market roads, footpaths, benabs, meeting places, multi-purpose building,” she disclosed.

In her response to claims of lack of transparency by the opposition, the Amerindian affairs highlighted that the monies are directly deposited into separate bank accounts that are then scrutinised by a financial committee identified by the village.

Contained in budget 2024, $2.7 billion in carbon credit funds is earmarked to be disbursed to over 200 communities, that will fund additional economic and social projects identified by the villagers.

The carbon credit agreement came after the Architecture for REDD+ Transactions (ART) revealed that it had issued 33.5 million TREES credits to Guyana – the first country to receive such status. This agreement will generate US$750 million in revenue over ten years and 15 percent will be provided for economic and development projects in these communities.