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FM
Former Member
[B]Government unveils micro and small enterprise project to be funded through GRIF[/B

By Stabroek staff | 3 Comments | Local | Monday, September 26, 2011



Government has unveiled another project to be funded through the Guyana REDD+ Investment Fund (GRIF) with a budget of US$10M over four years for the Micro and Small Enterprise Develop-ment project.

The Inter-American Development Bank (IDB) will be the ‘partner entity’ for this project which will be implemented by the Ministry of Tourism, Industry and Commerce according to a draft project profile posted on the newly-established GRIF website. The project encompasses two phases with the first phase running from 2012 to 2013 and the other from 2014 to 2015.

“The GOG (Government of Guyana) has identified the development of small and micro enterprises (MSEs) and providing alternative livelihoods to vulnerable groups as a key component of the LCDS to receive funding through the GRIF. In particular, it aims to address two of the major bottlenecks that constrain the development of MSEs and the ability of vulnerable groups to build alternative livelihoods in Guyana, which are i) limited access to finance and ii) limited technical and business skills. It will also strengthen the Small Business Bureau, which will administer the project components,” says the project profile.

“By facilitating the expansion of the business development support sector along a low carbon path, the GoG aims to provide economic opportunities to some of the most marginalized groups in Guyana, while promoting self-sufficiency, sustainable business initiatives and working closely with the private sector in a sustainable manner.”

The document noted that start-ups, small and micro enterprises (MSEs) and vulnerable groups all carry a high degree of lending risk, “given the economic reality in which they operate and a market failure known as asymmetric information.” It says that due to the high cost of obtaining adequate loan feasibility information and distinguishing between good and bad loans within these economic groups, lending institutions are often hesitant to provide loans to MSEs and vulnerable groups, or will add a high risk premium to their standard rate of interest and to their standard security and collateral criteria.

“As a result, MSEs and vulnerable groups in Guyana with feasible business development proposals are not always able to access the finance they need to grow or to enter a new economic activity. In addition, many MSEs, vulnerable groups and potential entrepreneurs lack the skills and training necessary to develop and implement their business proposition successfully,” it says.]

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Norway releases US$1.1M to Guyana outside GRIF

By Stabroek staff | 21 Comments | Local | Sunday, September 25, 2011



Norway has released US$1.1M to Guyana outside of the Guyana REDD+ Investment Fund (GRIF) – the agreed mechanism for the disbursement of funds under the two countries forests’ agreement – in order to enable Guyana to meet its contractual obligations under the partnership.

The funds represent interim funding for a National System for Monitoring, Reporting and Verification (MRV) for 2011. A statement on the newly established GRIF website said that MRV activities are ongoing activities and their funding cannot be delayed until the final approval of the Institutional Strengthening Project – of which the activities form a part.
FM
all this is pure bullshit why? Robert Persaud still could not write the business plan to get money from the EU. How many billions we lost there young taps?

Can you and Mr. McCoy get together and help write that plan?

Now you want me to believe you chaps are gonna write something to get this money? this will last all but a week and the only reason that this is being done is to try and prove the opposition wrong at all cost.

We have no focus on the things that matter.

Hey tell Rawbert that the guys in region six are in love with that big fat 1 bulldozer we just get.
J

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