Guyana is one of 13 Caribbean countries which will benefit from an International Finance Corporation (IFC) programme targeting job creation and resilience, according to a release from the IFC.
The IFC, a member of the World Bank Group, will invest up to US$15 million in the Caribbean Community Resilience Fund (CCRF) Debt Sub-Fund, a regional investment vehicle managed by Sygnus and established in partnership with the CARICOM Development Fund (CDF).
The investment, IFC’s first debt fund transaction in the Caribbean, is expected to expand access to financing for medium-sized enterprises while supporting resilience and sustainability projects, the release said.
Established to mobilize long-term capital for climate resilience and sustainable development, the CCRF platform is intended to address financing gaps that have historically limited private sector growth throughout the Caribbean. Through the CCRF Debt Sub-Fund, financing will be disbursed across 13 countries: Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago.
The release said that the Fund will focus on seven priority sectors critical to the region’s long-term development and resilience: energy, water, agriculture, housing, transportation, financial services, and information and communications technology. Investments will back businesses and projects that strengthen economic resilience, improve productivity, expand access to essential services and create sustainable employment opportunities across participating countries.
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