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The Caribbean Development Bank (CDB) on Monday said it has approved more thanCDB has announced approval of a US$7.5M loan to help GuySuCo improve its capacity.US$120 million in loans to fund dozens of projects related to agriculture, energy and infrastructure.According to CDB,Deion Jones Falcons Jersey, using lessons learnt over the past few years,Throwback Jerseys, the Guyana government will apply a loan of US$7.5M to enhance the capacity of the Guyana Sugar Corporation Incorporated (GuySuCo) to produce and harvest sugar cane on selected estates. The loan was approved by CDB’s Board of Directors on Thursday, December 11.“The goal of the project is to reduce operational costs, improve mechanisation, improve maintenance of the extensive drainage system; secure irrigation and flood protection; and to provide for the development of critically needed non-sugar agricultural production such as rice. Rice production has been on a positive growth trajectory over the past five years.”According to CDB, the sugar industry,Andre Branch Dolphins Jersey, once the mainstay of the Guyanese economy,NFL Jerseys From China, has generally been in decline but it still contributes around five per cent of GDP, and in 2013 it provided direct employment for approximately 16,000.“The industry supports more than 300 service providers,Wholesale Authentic Jerseys, and is the third largest contributor of foreign exchange. It also plays a critical socio-economic and environmental role in the predominantly low-income coastal communities where cultivation and processing are concentrated.”The regional bank said that the loan marks its third intervention in the sugar industry in Guyana and will address several considerations that should result in improved productivity of sugar cane cultivation and sugar production.Of the US$120M, Trinidad and Tobago is to receive US$40 million “to support Trinidad’s conversion of the fuel usage of vehicles in the transport sector from diesel and gasoline to Compressed Natural Gas,” the CDB said.The CDB also approved US$35 million in loans to the government of Jamaica to facilitate reforms regarding fiscal consolidation, growth and competitiveness,Wholesale Jerseys Free Shipping, and social protection.The government of St. Lucia will receive US$19.68 million for the upgrading of a municipal water system in order to bring potable water to more than 19,000 residents. The project will cost an estimated US$24 million in all, according to the CDB.Grenada is to receive US$10.7 million to improve solid waste management in the island, as well as a grant of $300,000 to finance the institutional strengthening of the Grenada Solid Waste Management Authority.The CDB approved a grant of US$1.2 million to fund research in several countries on the viability of developing a cassava industry.“The Project, which will be executed by FAO (the UN Food and Agriculture Organization) and has an estimated cost of US$1.795 million, will be conducted in the Commonwealth of Dominica, Suriname and the Republic of Trinidad and Tobago,” the bank said.Barbados received a loan of US$6.4 million to enhance the country’s international competitiveness.The Caribbean Development Bank is a regional financial institution established in 1970.CDB members are Anguilla; Antigua and Barbuda; Barbados; Belize; the British Virgin Islands; the Cayman Islands; Dominica; Grenada; Guyana; Haiti; Jamaica; Montserrat; St. Kitts and Nevis; St. Lucia; St. Vincent and the Grenadines; Suriname; the Bahamas; Trinidad and Tobago; and the Turks and Caicos Islands.