More than $2B approved for Georgetown Restoration Initiative

The government intends to restore, construct or rebuild the iconic Stabroek Market in Georgetown and the Bourda Green (Bourda Market) on Robb Street, with approximately $2 billion that was approved by the Parliamentary Committee of Supply on Thursday.

The sum is part of a broader $2.84 billion allocated towards the Georgetown Restoration Initiative, which seeks to restore the city to its former glory.

Minister of Local Government and Regional Development, Priya Manickchand, appeared in the committee to defend the allocations during the consideration of the 2026 budget estimates.

When asked by the parliamentary Opposition to detail the sum, Minister Manickchand stated that the money will finance numerous projects, including the design of green spaces across communities in the city.

The money, she said, will be used to enhance Georgetown, “so that the residents of Georgetown could live how we said we wanted people to live – comfortably and in a wholesome environment – With good streets and good drainage, and then have spaces where their children could enjoy our country, as well as restoring what we know to be the beautiful parts of Georgetown.”

The approved funds will also support further improvements to the transport and harbour carriageway on Lamaha Street; approximately $100 million has been earmarked for this purpose.

Avenues in communities across the city will also be improved with the allocation of an additional $200 million.

“You would have seen recently that the Ministry of Public Works lit up the East Street Avenue…not only for residents, but all the people in businesses, such as the Balwant Singh Hospital and the other businesses around there,” Minister Manickchand highlighted.

Green spaces will be designed and constructed in the communities of West Ruimveldt, East Ruimveldt, and North Ruimveldt, using monies approved for this purpose.

Additionally, the Committee of Supply was informed that $150 million has been allocated for the rehabilitation of the Municipal Training Council central area, which will be undertaken in collaboration with the Mayor and City Council, among other initiatives.

These sums are part of the $36.6 billion approved by the local government ministry, $33 billion for local government development, $596 million for policy administration and $3.2 billion for regional development. DPI