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Guyana,EU inks GUY$7.1B Sugar, renewable energy pacts

Guyana and the European Union (EU) on Friday inked two agreements totaling GUY$7.1B (Euro 27.4M) for the local sugar industry and the establishment of a hydropower plant here.

The first agreement will see the development of a micro hydro power system at Kato in Region 8.

This project is projected to cost some GUY$615M dollars and the agreement covers close to GUY$ 460M (Euro 1.9M), with the Guyana government covering the remaining GUY$155M(Euro 613, 949).

The second agreement of GUY$ 6.64B (Euro 25.6M) is the latest grant in the multi annual sugar programme and will support the competitiveness and viability of the sugar industry.

The two agreements were signed between Guyana’s Finance Minister Ashni Singh and EU Ambassador in Georgetown Robert Kopecky.

Since 2006, the EU has to date availed GUY$19.3B(Euros72.5M) to Guyana for the sugar sector.

Category/ies:Guyana News.
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