Georgetown, GINA, February 26, 2004

Guyana launched the fifth phase of the Basic Needs Trust Fund (BNTF) project at an official ceremony, today at the Cara Inn. As part of the project’s activities, a two-day workshop is currently on, ending tomorrow.
BNTF V is jointly funded by the Caribbean Development Bank (CDB) and the Canadian International Development Agency (CIDA).
Sectors to benefit from BNTF V are skills education, health, water, drainage systems and training.
BNTF V allows for more resources to be allocated to projects, than was previously allocated in BNTF Three and Four.
Guyana is the first of 10 Caribbean nations, to begin implementation of the BNTF V.
Addressing the two-day work shop, Minister of Finance Sasenarine Kowlessar noted that the Government has embarked on a systematic plan of action to meet poverty reduction targets and accelerate the development process outlined in the Poverty Reduction Strategy Paper (PRSP).
Mr. Kowlessar noted that Government’s drive to improved access of social services and improved infrastructural development are continuously being pursued.
He said that structural reforms have complemented efforts to reduce poverty and enhance growth and development.
BNTF is a social inclusive programme and targets development of the poor. It is part of Guyana’s overall PRSP.
Minister Kowlessar disclosed that BNTF V will go a long way in ensuring that Guyana’s poverty reduction strategy becomes a reality and is successful.
He noted that Guyana stands committed to the Millennium Development Goal to halve poverty by 2015.
BNTF projects started in Guyana in 1993 and to date 283 projects have been realised.
Also present at the launching ceremony were Project Manager, BNTF, Davindra Jaglall, Portfolio Manager, Project Supervision Division CDB, Nizamuddeen Ameerally and other CIDA and CDB representatives.