Georgetown, GINA, January 17, 2004

President Bharrat Jagdeo and the World Bank’s Managing Director Shengman Zhang met today at State House.
Zhang called on the President as part of his visit to Guyana to conduct developmental tours and discuss the country’s progress in implementing its Poverty Reduction Strategy. Its will also see visits to some projects vital to the success of the Poverty Reduction Strategy.
Zhang was invited in 2003 to visit Guyana by President Jagdeo. While here he will meet the President, representative of the donor community and other Guyanese stakeholders.
Prior to his meeting with the Head of State, Zhang noted that their discussions will focus on the Enhanced Heavily Indebted Poor Countries Initiative and ways in which the World Bank can aid Guyana’s developmental thrust.
The World Bank’s Managing Director is accompanied on his Guyana visit by Ms. Caroline Anstey, Country Director and Mr. Mustafa Rouis, Country Economist. They also accompanied him to the meeting with the President. Also at today’s meeting were Daniel Wallace, World Bank Country Officer and Lucia Hanmer, the Country Representative.
The overseas team arrived today and is expected to leave on Monday.
During their stay, several projects will be visited, including the new Skeldon factory, which is termed the centerpiece of the Government of Guyana’s restructuring of the sugar industry.
Projects in the water and housing sectors in Region Four will also be looked at.
Prime Minister Samuel Hinds will accompany the team on a site visit of the Bauxite Mines in Linden tomorrow. They will view LlNMINE and its operations in Region Ten.
World Bank is a major contributor to several programmes in Guyana, aimed at developing both infrastructure and social services.
The World Bank’s current portfolio in Guyana supports projects and programmes implemented though the Government’s budget, worth a total of US$40M. The bank, through various means, supports Guyana’s efforts to stimulate economic growth, increase the country’s productivity in key sectors such as sugar; improve accountability and transparency of the public sector and improve delivery of public services, including health, education and water supply.
Last month the World Bank and International Monetary Fund (IMF) agreed to support US$413.6 M in additional debt relief for the Guyana.