Guyana cleared for US millennium fund
The Millennium Challenge Corporation has notified the Government of Guyana that its concept paper has been accepted and that Guyana can enter the fiscal year 2005 Threshold Programme.
Speaking at his post-Cabinet press briefing held at the Office of the President yesterday, Head of the Presidential Secretariat Dr Roger Luncheon said this would see about US$7M in developmental aid flowing from the United States Government upon Guyana’s submission of an acceptable action plan to commit the funds.
“The government’s Concept Paper that was deemed acceptable by the Millennium Challenge Corporation identified the management of public finances as the main focus for the use of the developmental aid,” he said.
Luncheon stated yesterday that the government specifically undertook to execute three measures to address the fiscal deficit. These, he said, were tax reform, the public sector investment programme and fiduciary oversight.
Guyana had been expected to gain access to the new US fund earlier. The fund has been severely criticised for its slow disbursals.
