Harvesting Prosperity: Agri-Sector in Guyana Welcomes Multi-Billion Dollar Investments

The government has allocated substantial capital, amounting to billions of dollars, for the implementation of diverse agricultural initiatives in Regions Six and Ten. This strategic financial commitment has precipitated a significant upswing in Guyana's pursuit of agricultural self-sufficiency. President Dr. Mohamed Irfaan Ali, addressing attendees during a ceremony for a state-of-the-art hospital in New Amsterdam, reiterated the government's substantial investments in the food sector. An impressive $3 billion has been infused over a span of three years, a notable contrast to the prior administration's allocation of a mere $450 million over five years. Also underscored, was the Agriculture Innovation and Entrepreneurship Programme, earmarking an investment of $200 million. This program aims to empower 100 young individuals who will emerge as proprietors in the agribusiness sector. The benefits extend to Region 10, where enhancements in drainage and irrigation, distribution of planting materials, and expanded farmland access have taken place. Notably, agro-processors are reaping the rewards of a sophisticated $23.6 million agro-processing facility in Watooka, Linden, facilitating enhanced value-added production. In the interim, substantial investments have been directed towards critical sectors such as sugar, rice, fisheries, aquaculture, farming inputs, and equipment in Region Six. President Ali articulated the revival of these industries, emphasizing an injection of $14 billion into the sugar sector alone within a three-year period. This initiative has not only revitalized the industry but has also generated thousands of job opportunities. Furthermore, the brackish water shrimp production along the Corentyne coast, initiated previously, continues to yield positive outcomes. Berbice is slated to gain from a $90 million investment in an aquaculture farm and processing facility, augmenting the growth of the aquaculture sub-sector. Numerous farming communities have experienced positive impacts, including the construction and restoration of drainage structures, provisioning of farming inputs and machinery, pasture development, and the distribution of livestock and breeding bulls. Agro-processing facilities are on the horizon for Orealla and Crabwood Creek in Region Six, adding another dimension to the agricultural landscape. An impressive investment of $1.7 billion has been earmarked to enhance access to farm-to-market roads, contributing to the overall agricultural infrastructure in the region.

Source(Department of Public Information (2024), Amrita Naraine, WW Researcher (2024))

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9 Jan 2024 07:15 | by anaraine