Luis Alberto Moreno
The Inter-American Development Bank (IDB) has promised to assist Guyana with technical and financial support in an effort to reform the energy sector. During a meeting in New York last Friday, IDB President Luis Alberto Moreno told President Donald Ramotar that the lending agency will help Guyana modernise its energy matrix and advance its innovative Low Carbon Development Strategy (LCDS) in an effort to maintain debt sustainability, while providing the desired benefits to Guyana’s economy and its people.
Having acknowledged the pressing need to diversify Guyana’s energy matrix in a way that protects its environment, improves energy sustainability, and lowers total energy costs, the two officials agreed to have technical teams from Guyana and the IDB jointly explore alternative ways to upgrade and diversify the country’s energy matrix.
“They discussed the various development challenges facing Guyana as well as the IDB’s long-term commitment to support Guyana’s national development strategy,” a release from the IDB said.
The release said that Moreno congratulated President Ramotar on the effective management of fiscal policy by the government of Guyana’s economic team following massive debt forgiveness in 2006.
