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.
− threatened wife before taking lifeA cane harvester was on Wednesday afternoon found hanging from a rafter of his Cumberland, East CanjeDead: Bodnarine Mohamedhome. The discovery was made by his wife who he had threatened to kill before taking his life.Bodnarine Mohamed, 51, a Rose Hall Sugar Estate employee, was discovered in front of his door hanging by the neck with a rope attached to a rafter. His wife, Chandrawattie Kumar told this publication that she was at the house situated at the front of the yard, and made the discovery when she returned home.Over the 31 years of the marriage, it was revealed Mohamed had been threatening to kill himself after killing her. She said on several occasions he threatened her with a cutlass, but each time she was rescued.The mother of three related that Mohamed was a frequent user of alcohol and on many occasions when he was under the influence, he would make threats. For this reason, she said most of her days were spent in the front house.Mohamed, over the past few days, had been telling friends that he was leaving and was going to kill himself.On Wednesday, the man was said to have been in a restless mood. At the time, three surveyors were working in the yard and may have prevented him from carrying out his plan.The suicide comes on the heels of a massive awareness programme to reduce the scourge in Guyana. In East Canje, two vigils were held in observance of World Suicide Day on September 10.While it is repeatedly said that Guyana has the highest suicide rate in the world with 44 per 100,000 persons, Medical Superintendent, Dr Vishalya Sharma says those figures mean nothing if they are not compared with other countries.Comparing Guyana’s suicide rate with those of other countries in the hemisphere, Sharma said in Suriname the ratio is 27 per 100,000 persons whereas in Venezuela, it is 3 per 100,000 and Barbados, 7 per 100,000. Worldwide, the rate is 11 per 100,000 persons.It has been reported that for every person who successfully attempts self-harm, ten others fail in their attempts. Annually, about 200 persons die as a result of suicide in Guyana.Meanwhile, Region Six (East Canje-Berbice) Chairman David Armogan said suicide was a serious social and public health problem, which was not being addressed the way it should be.“The thing with Guyana is that we are worse than the rest of the world, because in Guyana our figure is four times higher than the rest of the world and per capita, we are the highest in the world which mean we have a very serious problem with a population of just under 700,000 persons. It is a very serious social health problem, as well as a public health problem. I say it is a public health problem, because once people are dying from a particular phenomenon, it becomes a public health problem. Suicide is one of the leading causes of death in our country,” Armogan said.Mohamed’s body is currently at the Arokium Funeral Home awaiting an autopsy.If you or anyone you know is feeling depressed and possibly contemplating suicide, please call the Guyana Inter-agency Suicide Helpline which operates 24 hours, and is organised by the Guyana Police Force. Telephone: 223-0001, 223-0009, 223-0818; Cellphone: 600-7896, 623-4444.
Here’s the top transfer-related stories in Thursday’s newspapers…Tottenham will rival neighbours Arsenal in the chase for Birmingham winger Demarai Gray, 18. (The Sun) Stuttgart defender Antonio Rudiger, 21, has dealt a blow to Chelsea’s hopes of signing him by revealing heis an Arsenal fan. (Metro) Newcastle United’s board members say there is “no guarantee” that they will sign a striker in the January transfer window. (Newcastle Chronicle) Former Liverpool striker Dirk Kuyt, now at Turkish side Fenerbahce, is a target for Southampton in the January transfer window. (Daily Star) Lukas Podolski has hinted he may leave Arsenal. The 29-year-old German forward is frustrated with a lack of first-team opportunities. (Daily Mirror) And here are the latest talkSPORT.com transfer tales…Pochettino laughs off idea of selling key Tottenham defenderBlow for Liverpool and Arsenal? Bayern Munich chief hints at Reus moveTottenham set to launch January transfer window bid for ANOTHER Ajax starMonaco poised to beat Newcastle to Benfica midfield aceTorres return to Atletico Madrid ruled out by SimeoneTottenham, Liverpool and Manchester United in fight for Bayern attackerBlow for Burnley as Belgian midfielder rejects Clarets switchExclusive – Liverpool should have replaced Suarez with Falcao, claims MatteoStuttgart manager admits he may be forced to sell Chelsea and Tottenham target