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…as Guyana taps into Caribbean Development FundBy Neil MarksThe government has received US$7.3 million in financing from the Caribbean Development Fund (CDF) to fix Parika/Ruby and other roads in agricultural areas of Regions Three, Four and Five.The agreement was signed yesterday between Finance Minister Dr Ashni Singh and Chief Executive Officer of the CDF Ambassador Lorne McDonnough at the Hilton Hotel in Port-of-Spain.President Donald Ramotar witnessed the signing and said that it would serve to boost agriculture production in the areas where the roads would be fixed.The financing provided by the CDF consists of a mixture of loan and grants which together are aimed at supporting the development of small and medium sized agricultural businesses as well as increasing the capacity of government to support exports.Of the financing, $4.66 million is a loan repayable at a nominal rate of three percent per annum, for 15 years, with a grace period of two years for specified purposes.The rest of the financing is grant funding.According to Ambassador McDonnough,Michigan Wolverines Jerseys, the financing agreement meets the objectives of the CDF.The Fund was set up to attract investment and new industries to disadvantaged countries,Joseph Addai LSU Jersey, regions and sectors and to facilitate infrastructural development, among other things.“The application of the loan is expected to increase investment, employment, exports,Wholesale Jerseys, and household incomes  across the productive sectors,” said McDonnough.The project dovetails other road construction projects, such as those being funded by the Inter-American Development Bank and the Caribbean Development Bank (CDB).For example,Tyrann Mathieu LSU Jersey, the Caribbean Development Bank is funding the rehabilitation of the West Demerara road all the way to Parika, East Bank Essequibo. The financing agreement signed yesterday will continue the stretch from the Parika junction to Ruby, from where farmers bring out their produce by boat.From there,Lower Merion Jerseys, the vegetables and fruits are off-loaded unto vehicles and taken to Parika and other markets. Some of the produce is taken to the Agro Processing Facility at Parika where it is processed for export and offloaded at the koker there.Finance Minister Dr Ashni Singh said the CDF was proof that the Caribbean Community (CARICOM) and the integration process are working.He said that Guyana was delighted to see the Fund move from a mere statement in the revised Treaty of Chaguaramas to a practical mechanism benefiting the people of the Caribbean.The President said that there is a need to de-stigmatise agriculture as being reserved for the uneducated and working with the hands.Ramotar said that advances in science,Morris Claiborne LSU Jersey, technology and communication should make the sector attractive to young people as a big income earner like other sectors.The President said that Caribbean may very well be spending more than US$5 billion on imported food annually.However,De Aaron Fox Kentucky Jersey, he said that there is no reason why the food import bill should remain so high. Countries in the Region,Max Bullough Michigan State Jersey, such as Guyana, with land, water and good farmers,Brad Kaaya Miami Jersey, could produce enough food to satisfy the demands of CARICOM.