TUESDAY 18th OCTOBER, 2022
$100
Less debt, more ‘soft-term’ financing necessary
No. 106879
- to effectively fund food security, climate adaptation efforts, President Ali tells World Food Forum - calls for establishment of special adaptation fund for Small-Island Developing states and low-lying coastal states
CONSIDERING the peculiar and special needs of Small-Island Developing states (SIDs) and lowlying coastal states, there needs to be more climate adaptation financing on soft terms, meaning more
grants, concessionary interest rates, and long-term repayment periods, President, Dr. Irfaan Ali has said. In his passionate virtual address during the United Nations (UN)’s Food and
Agriculture Organisation (FAO)’s World Food Forum, President Ali said SIDs and low-lying coastal states face peculiar and inherent challenges to their food security. “These challenges re-
late to their smallness of land resources and the resultant diseconomies of scale, their remoteness from larger markets, susceptibility to external shocks and market vulnerabilities, narrow revenue
bases, fragile ecosystems, and their vulnerability to climate risks. “These climate-related risks include flooding, overtopping of sea defences, swelling of rivers following extreme precipita-
tion, drought, erosion, and natural disasters such as landslides and hurricanes,” the Head of State related during the discussion on the FAO’s Hand-in-Hand initiative. SEE FULL STORY ON PAGE 3
Over 800 Region Two fisherfolk receive $150,000 one-off cash grant
Vice-President Dr Bharrat Jagdeo (second from left) addressing fishermen at Anna Regina HUNDREDS of fisherfolk in Region Two breathed a sigh of relief on Monday after they collected the $150,000 one-off cash grant from government at the Rice Producers Association (RPA) bond in Anna
Regina. The distribution exercise was held months after President, Dr Irfaan Ali, announced the initiative which will benefit fisherfolk across the country. Similar exercises have al-
ready been held in Regions Three, Four, Five and Six. The grant is expected to help members of the fishing industry recover from the effects of the COVID-19 pandemic as well as cushion the rise in cost of living.
Three weeks passed …
Glen Lall yet to find investor
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- promised company will produce power at US five cents per kW
Many of the young fishermen were excited and said the money will be used to improve their lives. One such fisherman is 23-yearold Fitz Calvan of Charity. He told the Guyana Chronicle that he arrived
Vendors, consumers thankful
at the venue around 08:00 hrs to ensure that he got a front row seat. Calvan, who is working towards owning his own boat and employing persons to work with him, plans to use the money to
“improve his future.” “As a young man, a father of one, I want to own my own boat and go out to sea. I want to be my own entrepreneur in the fishing industry,” he said. SEE FULL STORY ON PAGE 12
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- say removal of VAT on agricultural inputs has stablised market prices