More than 242 Amerindian, riverine, and remote villages across Guyana are set to benefit from a substantial increase in carbon credit funding, now totaling $4.84 billion. President Dr. Mohamed Irfaan Ali made this announcement during his feature address at the opening of the National Toshaos Council (NTC) Conference, held at the Arthur Chung Conference Centre (ACCC).
Guyana has entered into a landmark agreement with Hess Corporation, which involves the purchase of 30 percent of the country’s forest carbon over a ten-year period. Under the government’s Low Carbon Development Strategy (LCDS) 2030, 15 percent of the total revenues generated from this agreement has been earmarked for enhancing Amerindian livelihoods.
However, President Ali announced that this year’s distribution of carbon credit earnings to Amerindian communities will see a significant increase.
“As a government that cares for and values you, and believes in providing more, we have decided to allocate 25.6 percent of this year’s earnings to Amerindian communities. This translates to GY$4.84 billion being directly transferred to Amerindian villages,” President Ali stated.
The LCDS was initially developed under former President Dr. Bharrat Jagdeo and has since been expanded by the current administration. This expansion followed extensive national consultations held from October 2021 to July 2022.
At the NTC Conference, it was reaffirmed that 15 percent of the total revenues generated would be directly invested into the economies of Amerindian villages. However, to ensure that these communities continue to receive substantial support, President Ali disclosed an increase in the allocation for this year.
“Although the agreement is 15 percent, we do not want you to receive less than what you had before. We have increased the percentage of this year’s earnings to 25.6 percent, ensuring that you will receive no less than what you had last year,” the President conveyed to the council members.
Since the allocation of $4.7 billion in 2023, the 242 villages across Guyana have successfully implemented 811 transformative projects. These initiatives span sectors such as tourism, agriculture, infrastructure, industrial arts and crafts, and income-generating ventures, all aimed at promoting sustainable livelihoods for Amerindian communities.
“Isn’t this trust? Isn’t this honour? Isn’t this dignity? Isn’t this recognition? Isn’t this belief? We did it because we believe in you. We recognize you. We honour you and are committed to you,” President Ali passionately affirmed.
This increased funding underscores the government’s unwavering commitment to the development and empowerment of Amerindian communities across Guyana. (Modified from DPI)
