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The European Union is the most important grant donor in Guyana and together both sides have arrived at a consolidated, privileged partnership for development cooperation in the form of Budget Support.
Budget Support is a proof of trust and of a true partnership as the funds are channelled through the national treasury and implemented by the Government of Guyana, under agreed indicators. The EU and the Government of Guyana have reached a milestone in the implementation of the current budget support through the payment of GYD 19.8 Billion announced today. This should provide a major contribution to the inclusive and sustainable development of the Country, and substantial fiscal space for the Country finances, in the context of an unprecedented COVID 19 crisis.
The overall amount of the EU budget support for the Integrated Coastal management (2017-2021) is GYD 74. 5 Billion. This latest payment brings the total grant funds released since 2017 to GYD 51. 6 Billion. This payment is made possible by the fulfilment by Guyana of a comprehensive and demanding set of requirements.