February 25, 2024
Guyana and Canada inked a historic CA $120 million sovereign loan agreement on Sunday, paving the way for the Ministry of Human Services and Social Security to better serve vulnerable groups locally.
The agreement was inked by Guyana’s Finance Minister Dr Ashni Singh and Canada’s Minister of International Development Ahmed Hussen, during a ceremony held at the Canadian High Commissioner’s Bel Air residence.
Hussen is visiting Guyana for the first time and will be participating in the 46th Regional Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM).
Guyana is the first country in the Western hemisphere to benefit from the sovereign loan programme which provides loans on concessional terms to eligible countries, tailored to their needs and priorities.
And this loan, which equates to about GY$18 billion, will be used to improve social protection under the Ministry of Human Services and Social Security in the areas of digital transformation, old age pension, gender-based violence, persons living with disabilities and trafficking in persons.
In his remarks, Minister Hussen said the loan is tailored towards the needs of Guyana and will focus on mutual priorities and interest of both countries…
Source: Newsroom.gy