Guyana reviews World Bank portfolio to accelerate development projects

Senior Minister in the Office of the President with Responsibility for Finance, Dr. Ashni Singh, led a Government of Guyana and World Bank Group Country Portfolio Performance Review. The session focused on assessing progress and addressing bottlenecks for various national development projects.

Dr. Singh emphasized the need for rapid execution, urging a focus on procurement, design, and implementation. He noted that the government has requested the use of the International Development Association (IDA) to fund innovative initiatives, including coastal adaptation and resilience, integrated transport corridors, and green energy building projects.

Separately, Dr. Singh credited private sector investment and worker productivity for the nation's economic expansion. This follows recognition from the International Monetary Fund (IMF) regarding Guyana's rapid growth driven by both oil and non-oil activities. Dr. Singh also reported that 156,000 jobs have been created over the last five years, contributing to a 50 percent reduction in unemployment.