With fifth installment to be made soon…
Norway transfers additional US$35M to Guyana
-accumulated US$80M earmarked for Amaila hydro project
A TOTAL of US$35M will be transferred to Guyana by Norway, the fourth payment for climate services and continued low deforestation, as part of the country’s Low Carbon Development Strategy (LCDS).The announcement was made by President Donald Ramotar, in an address to the nation last evening, who stated that the payment was based on Guyana’s deforestation rate in 2012, as well as the country’s progress on indicators related to agreed goals for forest governance.
“Today’s announcement is also a strong rebuttal to those who have tried for several years to kill our Low Carbon Development Strategy and the Guyana-Norway partnership. For many years, vested interests in Guyana tried repeatedly to prevent our country from receiving this money from Norway.” – President Donald Ramotar
“Today, the Government of Norway announced the latest payment under the Guyana-Norway forests and climate change partnership. Norway will pay Guyana US$35M for the global climate services provided by our forest during 2012,” he said.
FUNDING FOR AMAILA
He stated that the US$35M will go towards the Government’s Amaila Falls Hydropower Project (AFHP).
Last year, Norway transferred some US$45M for the project and coupled with yesterday’s transfer of US$35, the Amaila project now stands to benefit from an accumulated sum of US$80M.
Norway is expected to transfer the US$80M to the Inter-American Development Bank (IDB), to be used as Guyana’s equity contribution to the AFHP.
Slated to be this nation’s most ambitious undertaking, the Amaila Falls Hydro Project (AFHP) is touted to be able to provide Guyanese with a cheaper, reliable and sustainable electricity supply. It involves the construction of a hydropower plant in the area of West-Central Guyana, where the Amaila and Kuribrong Rivers meet. Electricity produced there would be delivered to Georgetown and Guyana’s second largest town, Linden.
Source: http://guyanachronicle.com/wit...ent-to-be-made-soon/