US $44 million loan signed to enhance human capital through education
The Government of Guyana on Friday signed a US$44 million loan agreement with the World Bank as part of the Guyana Strengthening Human Capital through Education Project.
The project focuses on the expansion of access to quality education at the secondary level and improving technical and vocational training (TVET).
The agreement was signed in the Ministry of Finance’s boardroom by Senior Minister within the Office of the President with responsibility for Finance, Dr Ashni Singh and World Bank Resident Representative for Guyana and Suriname, Ms Diletta Doretti.
In brief remarks, the Honourable Minister of Education, Priya Manickchand stated that this project aligns with the Education Ministry’s goals to improve and expand access to quality secondary education while simultaneously developing the country’s TVET sector.
“The Government of Guyana is very aware that this new Guyana has to be people centred. Each human being must develop along with the beautiful resources our land is benefiting from.”
Finance Minister, Dr Singh share similar sentiments. He noted that the signing of the US $44 million agreement for the development of human capital is a significant part of a much broader and comprehensive policy agenda. He explained with the rapid transformational development taking place, there is a great need for human capital development.
“We believe that there is no investment that is more important than the investment in the people.”
Meanwhile, Ms Doretti highlighted that the funding aims to prepare citizens to excel in emerging sectors of the economy including climate-resilient agriculture, low-carbon technology, and digital development.
“Activities under the project are expected to benefit at least 60,744 students and 2,128 teachers and principals at the secondary level. At the TVET level, a minimum of 600 students and 140 secondary and post-secondary TVET trainers will benefit from professional development activities.”
The project will support the piloting and national rollout of a new curriculum for Grades Seven to Nine and finance textbooks for Grades Seven to Eleven. It will also see the development of a new TVET sector policy for 2022-203o and improve the delivery of TVET at secondary and post-secondary institutions.
Present for the signing were Ministry of Education Permanent Secretary, Mr Alfred King, Chief Education Officer, Dr Marcel Hutson, Deputy Chief Education Officer (TVET), Dr Ritesh Tularam, Chief Planning Officer, Nicola Johnson along with officers from the Ministry of Finance.