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Guyana
>> Regional Overview >> Guyana Overview Program Data Sheet
504-001
USAID MISSION: Guyana
PROGRAM TITLE: Economic Growth and Opportunity (Pillar: Economic Growth, Agriculture, and Trade)
STRATEGIC OBJECTIVE AND NUMBER: Improved Climate for Private Investment, 504-001
STATUS: Continuing
PLANNED FY 2002 OBLIGATION AND FUNDING SOURCE: $1,600,000 DA
PRIOR YEAR UNOBLIGATED AND FUNDING SOURCE: $0
PROPOSED FY 2003 OBLIGATION AND FUNDING SOURCE: $ 836,000 DA
INITIAL OBLIGATION: FY 1998 ESTIMATED COMPLETION DATE: FY 2003Summary: The USAID economic growth program, which seeks to improve the climate for private investment, has three components:
- increasing capacity to implement economic policy for growth with equity;
- strengthening the private sector to influence public policy; and
- increasing services available to support small and microenterprises.
Inputs, Outputs and Activities: FY 2002 Program: In FY 2001 the 504-001 title was changed from "Expanded Economic Opportunities for the Urban and Rural Poor" to "Improved Climate for Private Investment." This change was made to better reflect the activities being pursued under the objective.
In FY 2002, Development Assistance resources will be used to continue support for the policy and administrative reforms being undertaken by the Government of Guyana (GOG) and to continue on-going efforts to strengthen several private sector organizations (PSOs) and microfinance institutions.
Funds will also be provided to facilitate approval and implementation of investment laws that are acceptable to private investors and to strengthen the institutional capacity of the national investment/export promotion agency. In addition, technical assistance and training will be provided to the National Bureau of Standards to establish and enforce standards that are necessary to comply with Guyana's World Trade Organization obligations and future Free Trade Area of the Americas commitments. The goal of these efforts is to improve the enabling environment to attract both foreign and local private investment by making investment laws more transparent and non-discretionary, and to remove existing bureaucratic impediments to investors.
Technical assistance and training will be provided to 10 private sector organizations to help them advocate on behalf of their membership and to help microcredit institutions provide improved services for microenterprises (75% of which are female-owned).
Planned FY 2003 Program: USAID intends to use FY 2003 resources to complete the institutional strengthening of the national investment/export promotion agency, and to serve as a bridge to a new USAID country strategy for FYs 2004-2009.
Performance and Results: As a result of USAID's assistance under this objective, laws to attract investment and promote the small business sector have been drafted, corrective actions are being taken to remove bottlenecks and impediments to investments and exports, and the private sector and GOG are now working together in a more collaborative and non-confrontational manner. In addition, eight regional Chambers of Commerce have formed an Association of Regional Chambers of Commerce to increase their capacity to advocate with the GOG.
Microcredit loans increased from 2,544 in 1998 to 4,610 in 2000. If progress continues as expected under this program, it is anticipated that more transparent and non-discretionary investment laws will attract increased local and foreign private investment, and that marketing and investment information will be more readily available. In addition, it is anticipated that PSOs will have an enhanced capacity to collaborate with the GOG on economic and business issues, and that microcredit institutions will be able to significantly increase the number of loans to microenterprises.
Principal Contractors, Grantees, or Agencies: The prime contractor for activities being implemented under this strategic objective is Chemonics International Inc. The subcontractor is Management Systems International.
US Financing in Thousands of Dollars
504-001 Improved Climate for Private Investment DA Through September 30, 2000 Obligations 3,314 Expenditures 1,270 Unliquidated 2,044 Fiscal Year 2001 Obligations 2,000 Expenditures 1,416 Through September 30, 2001 Obligations 5,314 Expenditures 2,686 Unliquidated 2,628 Prior Year Unobligated Funds Obligations 0 Planned Fiscal Year 2002 NOA Obligations 1,600 Total Planned Fiscal Year 2002 Obligations 1,600 Proposed Fiscal Year 2003 NOA Obligations 836 Future Obligations 0 Est. Total Cost 7,750
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Last Updated on: May 29, 2002 |
