The Inter-American Development Bank (IDB) on Thursday approved a US$11.6 million loan for Guyana which will go towards a project designed to support the strengthening and sustainability of the energy sector here by contributing to the institutional development of oil and gas governance and cleaner energy sources for electricity generation.The specific objectives of the loan programme are first, to develop a management and planning framework for Guyana’s oil and gas sector; and second, to contribute towards the development of a policy framework so that Guyana may diversify its electricity generation matrix using cleaner or renewable sources.“Guyana’s new energy scenario, which will likely yield significant revenues for the Government, represents a transformative shift in Guyana’s development trajectory. It embodies a crucial and unprecedented opportunity for economic growth and sustainable development,” a statement from the IDB added.It was further stated that the conversion of short-term oil wealth into long-term, well-being hinges on the capacity of the Guyanese Government to adequately manage this new sector and enact productivity-enhancing reforms.The IDB said if handled well; it can boost the overall standard of living for the country. However, there is considerable work to be done so that Guyana can enjoy the benefits of its recent – and potential – oil and gas wealth.The institution also highlighted that too often resource-rich countries have become or remained poor as a result of inadequate resource management. Hence, there is an urgent need to improve the governance of Guyana’s oil and gas sector ahead of production in 2020.The agreed-upon policy commitments of the first tranche of the programme were geared towards establishing a department of energy within the Ministry of the Presidency to take over responsibilities related to the governance and development of Guyana’s oil and gas sector.The second commitment was to approve the department draft roadmap to develop Guyana’s oil and gas institutional framework, and; design of a model contract for future Production Sharing Agreements (PSA) by the department and presented to Guyana’s Ministry of the Presidency.Now that the second tranche has been disbursed, the Government will now have to ensure that the Department functions are placed in a manual establishing its organisational structure, budget and staff allocation, approved by the Ministry of the Presidency.Additionally, it was be tasked with establishing a set of protocols and mechanisms for contract management; and an oil and gas depletion policy designed by the Department and presented for approval to the Ministry of the Presidency.Finally, the programme will also aid Government with the development of a policy framework to diversify and promote the sustainability of Guyana’s electricity generation matrix.The loan is funded in two components totalling US$11.64 million. The first component will total US$5.82 million from the IDB’s ordinary capital; disburse within two years, with a grace period of five and a half years, and an interest rate.The second component will total US$5.82 million from the IDB’s concessional ordinary capital; disbursed within two years, with a grace period of 40 years, and 0.25 per cent interest rate. The executing agency will be the local Finance Ministry.
Remember that the Steelers, the No. 6 seed in the AFC, are in their sixth conference title game in 12 years. The Panthers, No. 5 in the NFC, were in the Super Bowl two years ago and finished 11-5 this season, as good a record as anyone in the NFC but the Seahawks. In fact, a Super Bowl between two wild-card teams wouldn’t be a huge surprise – it would hardly be a shock if the Steelers win Sunday in Denver and the Panthers win in Seattle. AD Quality Auto 360p 720p 1080p Top articles1/5READ MORESanta Anita opens winter meet Saturday with loaded cardA lot of it has to do with the coaches. John Fox of the Panthers was the Giants’ defensive coordinator when they got to the Super Bowl in 2001 and is 5-1 in the postseason with Carolina. His offensive coordinator is Dan Henning, a head coach with Atlanta (1983-86) and San Diego (1989-91), but also a former assistant under Joe Gibbs with Super Bowl winners in Washington. What they’ve done in two games might even be called astounding: shutting out a top offense and moving at ease through a top defense. Even New York’s Tiki Barber, normally careful with his comments, noted (correctly) how badly Carolina outcoached the Giants in the Meadowlands, blanking an offense that had scored 421 points in the regular season, third most in the league. Then the Panthers went to Chicago, scored 29 points and put up 434 yards on what all season had been the NFL’s best defense. That was against Coach of the Year Lovie Smith, as Henning and Jake Delhomme exploited defensive weaknesses that no one else seemed able to find. Only the 1985 New England Patriots have won three games on the road to get to the Super Bowl. Don’t put Pittsburgh and Carolina – both trying to accomplish the same feat – in a class with New England, which lost 46-10 to Chicago and became a footnote to history. They are legitimate contenders who ended up at the bottom of the seedings because of injuries and fluky plays, not because they lack ability. Pittsburgh? Cowher takes a lot of heat for four title-game losses at home. But maybe his critics should note that it takes a good coach to get that far six times in 12 seasons. The defensive schemes cooked up by Cowher and coordinator Dick LeBeau, another former head coach, had Peyton Manning rattled and out of sync for three quarters of last week’s game. He couldn’t decipher the blitzes and was throwing off his back foot much of the time – just like his brother Eli did with the Giants against Carolina. Also give the Steelers credit for offensive innovation. A team committed to the run more than any team in the league, they came out throwing early against a defense stacked to stop the ground game. They jumped to a 21-3 lead and won a game that wouldn’t have been close at the end if not for an egregious officiating error. Beyond that, these are teams that at the beginning of the season were expected to be there – but seeded higher. Pittsburgh probably would have won the AFC North had Ben Roethlisberger not been banged up during a three-game losing streak that put their playoff chances in peril. The Panthers would have won the NFC South if not for a fluky running-into-the-kicker penalty that cost them a game against Dallas. Also remember that both are better on the road than at home (each is 8-2 on the road compared to 5-3 at home, including the playoffs). Some people who have watched the Steelers closely through Cowher’s 14 seasons also think they are playing better because less is expected from them. All five of the previous title games under Cowher were at home, and they are 1-4 in those, including a 41-27 loss to New England last year. Fox, meanwhile, is establishing himself as a premier playoff coach and Jake Delhomme has become a premier playoff QB, 5-1 overall. He quarterbacked Carolina to a win in Philadelphia in the conference title game two years ago, and he excelled in the game he lost: the 32-29 shootout with New England in the Super Bowl. Yes, he went undrafted coming out of college, but he’s totally outplayed two inexperienced first-round picks: Eli Manning and Rex Grossman. “Once you do something, it makes it a little easier to do it again,” Carolina defensive end Julius Peppers said. “Experience plays a part in it. I’m confident in our ability to go on the road and do well because we’ve done it before.” So forget about those ’85 Patriots, mismatched in the big game against one of the better teams of the modern era. These low seeds are legitimate. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!