World Bank US$20M loan package to include experts for SWF workshop

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Two international experts are being provided to Guyana as part of a US$20M oil and gas assistance loan package from the World Bank, in order to help the country develop its Department of Energy.

The country’s State Minister, Joseph Harmon on Friday made the disclosure at a post-Cabinet media engagement held at the Ministry of the Presidency in Georgetown.

He told members of the media the Cabinet had this week been briefed by the country’s Finance Minister on the status of the World Bank loan to Guyana for its O&G capacity building.

According to Mr. Harmon, Finance Minister Winston Jordan, “reminded Cabinet that Guyana had applied for a US$20M preparation facility to assist in capacity building in relation to oil and gas.”

He said that as a consequence, the World Bank would also provide two experts to conduct a high level workshop on the Sovereign Wealth Fund, including its fiscal arrangements, rules and best practices.

That workshop will be held on May 21, 2018 and according to the State Minister, “all Government Ministers and Members of Parliament including the Opposition will be invited to participate.”

He said Mr. Jordan also informed Cabinet that the World Bank had offered to provide assistance by way of workshops for the Department of Energy. “The two experts that are coming are part of that grant…,” Mr. Harmon stated.

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