The Inter-American Development Bank’s (IDB) Country Representative for Guyana, Lorena Solorzano Salazar, recently lauded local authorities for ensuring the nation’s rapid economic growth translates to an improved quality of life for citizens.
In her recent appearance on the Energy Perspectives podcast, Salazar emphasized that while Guyana is experiencing significant economic expansion, it is equally committed to implementing practices that foster long-term sustainability and environmental responsibility.
During the podcast, Salazar praised Guyana’s efforts to leverage its natural resources responsibly. She highlighted President Irfaan Ali’s initiative to form a global alliance on biodiversity and to develop a pricing mechanism for ecosystem services. These measures, she noted, are crucial in the fight against climate change and in positioning Guyana as a leader in sustainable development.
Salazar also stressed the importance of diversifying Guyana’s economy beyond oil and gas to ensure sustainable development. She pointed out that while oil and gas remains a significant driver of the economy, strengthening the non-oil sectors is crucial for long-term sustainability.
“The push that the government is doing to strengthen the non-oil economy…that is important, because that will be part of the sustainability of the country,” she explained. “Guyana is one of the countries that has made a lot of investments and we are supporting them, for example, in the energy transition with solar farms,” she pinpointed.
One of the critical areas Salazar highlighted was water circularity and the need for efficient water management practices. She pointed out that enhancing the production and traceability of water resources is vital for sustainability. “We need to keep that precious asset that we have in Guyana,” she urged.
Moreover, Salazar emphasized the importance of adhering to international market standards and regulations, which increasingly demand green and sustainable practices. She encouraged the private sector to adopt practices that promote environmental responsibility, such as avoiding plastics and obtaining organic certifications.
When asked about her observations on whether Guyana is on track to achieving these goals, Salazar responded affirmatively.
She said that as Guyana continues to grow, the guidance and support from institutions like the IDB will be instrumental in translating economic gains into lasting benefits for all its citizens.
