In a significant development, the National Assembly of Guyana has given the green light to a $148 million supplementary funding package. The funds are earmarked for direct disbursements to Guyana's Indigenous communities and climate adaptation measures. Out of the allocated amount, $22.4 million will be directly distributed among 242 Indigenous communities nationwide, while $126.5 million is dedicated to climate adaptation initiatives.
Kaieteur Falls, Guyana, South America.
The Supplementary Appropriation Bill, presented by Senior Finance Minister Dr Ashni Singh, allocated the funds from carbon credit revenues (generated through Guyana's carbon credits deal with the Hess Corporation) to two vital priorities under the Low Carbon Development Strategy (LCDS).
Priority One focuses on empowering villages through investments, where 15% of the revenues are dedicated to bottom-up investments based on community plans outlined in village sustainability plans. The goal is to enhance social, economic, and environmental wellbeing through infrastructure development, education, healthcare initiatives, entrepreneurship support, and cultural preservation.
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Priority Two emphasises climate adaptation, considering Guyana's vulnerability to climate change impacts due to its coastal areas and diverse ecosystems. The $126.5 million will be invested in comprehensive climate adaptation measures, including constructing major canals, sluice rehabilitation, and procuring pumps and excavators across multiple regions.
This historic funding allocation represents a significant step towards empowering communities and building climate resilience in Guyana, safeguarding its people, infrastructure, and natural resources.
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