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FM
Former Member

Guyana receives US$900M from Islamic Development Bank

 
Minister of Finance, Winston Jordan during the 43rd Annual Meeting of the IsDB Group in Tunisia

The Islamic Development Bank (IsDB) in 2017 fielded a work programme in Guyana for a three year period – commencing 2018- in which financial and technical assistance to the tune of US$900M will be directed into the country’s key development areas, including economic infrastructure, rural development, human development and trade and competitiveness.

This is according to the Minister ofFinance, Winston Jordan during his speech at the 43rd Annual Meeting of the IsDB Group in Tunisia.

To the gathering, which included Dr Bandar M. H. Hajjar, President of the Islamic Development Bank, Jordan asserted that since its assumption to office, the coalition Government has “been steadfast in its resolve to ensure growth in the economy.”

“That resolve has resulted in economic growth averaging about 3 per cent, between 2015- 2017,” he said.

As such, he assured that the Government is continuing their focus on providing strategic approaches for the economic well being of Guyana. This includes strengthening national planning, building a robust oil and gas industry, and consolidating the macroeconomic fundamentals, among others.

“Guyana has recently adopted a Public-Private Partnership (P3) Framework, which we recognize has the potential to expand the resource envelope for public sector investment in a prudent, efficient and effective manner. This Framework provides a structured platform for local and external private sectors to meaningfully engage with Government to achieve economic development,” he said.

Moreover, Jordan noted that with Agriculture being a major contributor to the growth and expansion of the economy, Government has leveraged the inter-locking capacity of the Bank, and is currently in an advanced stage of designing a Reverse-Linkage Project with the Malaysia Agricultural Research and Development Institute (MARDI), which will assist in updating Guyana’s expertise and technology in rice production.

“This project will support the introduction of innovative rice varieties that are more resilient and will significantly increase rice yields per acre” he asserted.

 The Government also approached the Bank for its support and assistance to design a project which will modernize and upgrade the facilities of the Palms Geriatric Facility.

This project is expected to procure equipment and furniture. It is also expected to result in the provision of enhanced medical care.

Source: inews.

Replies sorted oldest to newest

GTAngler posted:
Baseman posted:

Keep an eye 👁 on dem fullahs, dem lil wutliss.  Let’s hope sharia is not next.

Seriously? Yuh behavin like some of dem pretentious bigots here.

Bai relax.  I was just agitating Chief.  

Its a good thing.  This is what India also needs to do to expand business.  

My afc friend (Mitwah nephew) mention some big money coming to kick start the economy which puts the PNC in a good position come 2020!

FM

Is the infrastructure development includes the CJIA upgrade, the deep water harbor, and the new Demerara Harbor Bridge? These are vital areas the government should focus on. 

FM
Baseman posted:
GTAngler posted:
Baseman posted:

Keep an eye 👁 on dem fullahs, dem lil wutliss.  Let’s hope sharia is not next.

Seriously? Yuh behavin like some of dem pretentious bigots here.

Bai relax.  I was just agitating Chief.  

Its a good thing.  This is what India also needs to do to expand business.  

My afc friend (Mitwah nephew) mention some big money coming to kick start the economy which puts the PNC in a good position come 2020!

Watch out. Chief gun tell yuh to shut yuh poke.

FM
Nehru posted:

It put the PNC in a good position to increase their Swiss Accounts!!!!!!!

There will always be kickbacks no matter who wins the contracts for these jobs. BJ is like a leach on them for the US18M sign-on bonus, but some of this kosher money will slip through his figures. Lol

FM
Django posted:
Baseman posted:
Nehru posted:

It put the PNC in a good position to increase their Swiss Accounts!!!!!!!

Nah bai.  BJ gatt a good hawk eye pun dem rass!!

LOL

Thief know to watch thieves.

Hahahaha. I was just about to ask who watching the hawk?

GTAngler
GTAngler posted:
Django posted:
Baseman posted:
Nehru posted:

It put the PNC in a good position to increase their Swiss Accounts!!!!!!!

Nah bai.  BJ gatt a good hawk eye pun dem rass!!

LOL

Thief know to watch thieves.

Hahahaha. I was just about to ask who watching the hawk?

Can either of you can provide one shred of evidence for your accusation?  Yet you cheer on the PNC when they mismanage the country.

Bibi Haniffa
Bibi Haniffa posted:
GTAngler posted:
Django posted:
Baseman posted:
Nehru posted:

It put the PNC in a good position to increase their Swiss Accounts!!!!!!!

Nah bai.  BJ gatt a good hawk eye pun dem rass!!

LOL

Thief know to watch thieves.

Hahahaha. I was just about to ask who watching the hawk?

Can either of you can provide one shred of evidence for your accusation?  Yet you cheer on the PNC when they mismanage the country.

Do you believe the kleptos are clean as a whistle ?

Django
Last edited by Django
Bibi Haniffa posted:
GTAngler posted:
Django posted:
Baseman posted:
Nehru posted:

It put the PNC in a good position to increase their Swiss Accounts!!!!!!!

Nah bai.  BJ gatt a good hawk eye pun dem rass!!

LOL

Thief know to watch thieves.

Hahahaha. I was just about to ask who watching the hawk?

Can either of you can provide one shred of evidence for your accusation?  Yet you cheer on the PNC when they mismanage the country.

Show me where I have cheered on mismanagement on either side.

GTAngler
Baseman posted:
Nehru posted:

It put the PNC in a good position to increase their Swiss Accounts!!!!!!!

Nah bai.  BJ gatt a good hawk eye pun dem rass!!

This was money that BJ could have accessed  by the never took the membership of the OIS seriously. 

Pointblank
Baseman posted:
Nehru posted:

It put the PNC in a good position to increase their Swiss Accounts!!!!!!!

Nah bai.  BJ gatt a good hawk eye pun dem rass!!

With so much experience in theifery BJ is perfect. The PNC will try but will be busted just like the 18mil signing bonus. Nothing will get by him, he will do better job in the opposition keeping them honest. I think he just find his niche... 

sachin_05
Last edited by sachin_05

Is that a grant or a non interest loan? Is the 900 million dollars in Us dollars or Guyana dollars.I strongly doubt that the Islamic Bank will give Guyana a country with a Christian majority a 900 million Us grant when there are so many Islamic and Arab countries that are in poverty.

Prashad
Last edited by Prashad
Baseman posted:

Keep an eye 👁 on dem fullahs, dem lil wutliss.  Let’s hope sharia is not next.

Bai, Chickery, AKA jansher, was on bended knees begging the PPP for over a decade to solicit funds from this bank. I used to laugh at the man noting dem fulla peeps don't give non fullas no break and dat them does only look out fu dem mattie". Well he proved me wrong and highlighted a PPP failing to tap a lucrative leech stream here. This is nectar to guyanese political class. They all have their proboscis our and ready for a long period of sucking up lucre.

FM
Pointblank posted:
Baseman posted:
Nehru posted:

It put the PNC in a good position to increase their Swiss Accounts!!!!!!!

Nah bai.  BJ gatt a good hawk eye pun dem rass!!

This was money that BJ could have accessed  by the never took the membership of the OIS seriously. 

Even though Guyana is a member of OIS, I agree that Jagdeo didn't take them seriously. The PNC has something under their belts to brag about. 

Winston Jordan quote:

Jordan asserted that since its assumption of office, the coalition Government has “been steadfast in its resolve to ensure growth in the economy.”

“That resolve has resulted in economic growth averaging about 3 percent, between2015- 2017,” he said.I have trouble believing this.

FM
Prashad posted:

There is no way that the IDB gave a Guyana 900 million US dollars grant.  Someone should see if it is a non interest loan. 

Don't bother with them fullah man wit dem "interest free" loans.  Dem dozz tek equity and sooner or later you lose corn and husk!

FM
Labba posted:

bai doh is Merika dalla or Guyana dalla? 

Bai, wah dozz GYD 900 mil do fuh infrastructure.  datts about 10 miles lil two lane road or one lil bridge.  Guyana gatt ile, big money time.  Diss time nah Lang time!

FM
Prashad posted:

Is that a grant or a non interest loan? Is the 900 million dollars in Us dollars or Guyana dollars.I strongly doubt that the Islamic Bank will give Guyana a country with a Christian majority a 900 million Us grant when there are so many Islamic and Arab countries that are in poverty.

Bai, banks don’t gi grants, much less fullah man bank.  USAID etc gives grants. This is an investment. 

FM
Prashad posted:

I hope that this present government does not squander Guyana's future oil and gas royalties on nonsense before the money even starts coming in.

Infrastructure developments are NOT squandering money when long to medium-term loan is provided for social, economic, and educational development in Guyana. Lots of professional advise and experts study/inputs attached to the loan. Guyana is on the final frontier to start receiving money from its oil revenue. When PPP build the Providence stadium, the then opposition said it will be a waste of time. The same said for Marriott and CJIA expansion, etc.. You don't wait on a rainy day to buy an umbrella. Jagdeo has a good vision to put Guyana back on the world map. 

FM
Last edited by Former Member
Prince posted:
Prashad posted:

I hope that this present government does not squander Guyana's future oil and gas royalties on nonsense before the money even starts coming in.

Infrastructure developments are NOT squandering money when long to medium-term loan is provided for social, economic, and educational development in Guyana. Lots of professional advise and experts study/inputs attached to the loan. Guyana is on the final frontier to start receiving money from its oil revenue. When PPP build the Providence stadium, the then opposition said it will be a waste of time. The same said for Marriott and CJIA expansion, etc.. You don't wait on a rainy day to buy an umbrella. Jagdeo has a good vision to put Guyana back on the world map. 

What do you mean by "final frontier"? Bruk dah up in fine change and hexplain wah you mean hey padna.

FM
Prince posted:
Prashad posted:

I hope that this present government does not squander Guyana's future oil and gas royalties on nonsense before the money even starts coming in.

Infrastructure developments are NOT squandering money when long to medium-term loan is provided for social, economic, and educational development in Guyana. Lots of professional advise and experts study/inputs attached to the loan. Guyana is on the final frontier to start receiving money from its oil revenue. When PPP build the Providence stadium, the then opposition said it will be a waste of time. The same said for Marriott and CJIA expansion, etc.. You don't wait on a rainy day to buy an umbrella. Jagdeo has a good vision to put Guyana back on the world map. 

900 million Us of the Oil royalty money already spent before it came in. Prashad does not operate like that. The royalty money should be invested in safe foreign investments. The money earned should then be invested in infrastructure projects. Prashad already gave the example of Dubai being stone broke in 2009. They had to be bailed out by the other Emirates.

Prashad
Bibi Haniffa posted:
Prashad posted:

This is a dangerous loan because it has to be payed back one way or the other.

If they don't pay back ISIS and Al Qaeda will show up to collect payment.

Interesting observation.

FM
Last edited by Former Member

Hey hey hey...dem bais running up debt before de aile money come in. Hey hey hey...almost one billion dallah. Dem goin to spend all dis in two year? Hey hey hey...That kanta economis Mr TK will see resource curse all over de place. Hey hey hey...

FM
Prince posted:
Nehru posted:

It put the PNC in a good position to increase their Swiss Accounts!!!!!!!

There will always be kickbacks no matter who wins the contracts for these jobs. BJ is like a leach on them for the US18M sign-on bonus, but some of this kosher money will slip through his figures. Lol

True.  During the PPP days lots of family and friends were given jobs to oversee IDB, CDB projects.  Some hardly visited the projects and turned in made up reports to earn their keep, all part of the project funding costs.  

FM
Prince posted:
Nehru posted:

It put the PNC in a good position to increase their Swiss Accounts!!!!!!!

There will always be kickbacks no matter who wins the contracts for these jobs. BJ is like a leach on them for the US18M sign-on bonus, but some of this kosher money will slip through his figures. Lol

halaal........

GTAngler

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