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Company secures almost US$1 billion financing for oil production ship offshore Guyana

SBM Offshore on Wednesday confirmed the successful financing of its Floating, Production, Storage and Offloading FPSO Liza, totaling US$720million. The ship will be stationed offshore Guyana to produce, collect, store and offload crude oil from ExxonMobil’s fields to tankers that will take it to refineries. The company said the funds were secured through 12 international banks. SBM Offshore will draw ...

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ILO launches Skills for Green Jobs Study- Guyana

The International Labour Organization (ILO), in collaboration with the Ministry of Social Protection of Guyana, launched a comprehensive study report  titled “Skills for Green Jobs Study- Guyana”. The‘Skills for Green Jobs Study-Guyana’ highlights policies, programmes and emerging opportunities  in the green economy as Guyana sets it eyes on transitioning into a green economy.  The creation of more jobs, better jobs ...

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Fewer soft loans for oil-producing Guyana; growth rate may jump to 38.5 percent- IDB, IMF

The Inter-American Development Bank (IDB), in announcing its approval of Guyana’s four-year country strategy, has cautioned that the country would eventually not be eligible for a lot of international concessional financing when it becomes an oil-producer. “As Guyana transitions to oil and gas production by mid-2020, it is expected that the country will likely see reduced access to concessional resources ...

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Land and Surveys Commission guarding against washing dirty money for land leases

The Guyana Lands and Surveys Commission (GLSC) on Tuesday said it is collaborating with relevant agencies to ensure that dirty money is not laundered to lease large tracts of State land, even a it works towards fast-tracking the processing of land applications down to three months. Chief Executive Officer and Commissioner of the GLSC, Trevor Benn said his semi-autonomous agency ...

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CDB funds improvement of Guyana’s local government system

The Caribbean Development (CDB) is giving Guyana US$218,020 to build capacity in key areas of local government to facilitate de-centralisation of public service delivery, and greater local involvement in social and economic development, consistent with the sustainable development goals. The Project will assist the Government of Guyana in building the capacity of the Ministry of Communities to better support the ...

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NAACIE secures 6.5 percent salary increase for GPL staff

  After approximately six months, negotiations between the National Association of Agricultural, Commercial and Industrial Employees (NAACIE) and Management of the Guyana Power and Light (GPL) concluded Friday with the parties signing off on salary increases for the power company’s staff who come under the purview of the union. The salary increase will be retroactive to January 1, 2017. General ...

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High Court quashes parking meter by-laws

The High Court on Friday quashed the Georgetown Parking Meter by-laws, effectively putting a brake on the system that is intended to generate much needed revenue for the cash-strapped city. “It is difficult to envisage it going forward at this time without the bylaws,” said NBS’ Attorney-at-Law, Pauline Chase. Filed by the New Building Society in February, 2017, that financial ...

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Foreign Minister says signing bonus disclosure poses risk to border controversy battle

Minister of Foreign Affairs, Carl Greenidge on Thursday defended government’s more than one year secrecy of a US$18 million signing bonus from ExxonMobil, saying that publicity about the deal could potentially have serious implications for Guyana in relation to the border controversy with Venezuela. He told reporters that now that details about the signing bonus have been disclosed, Venezuela was ...

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Signing bonus for Consolidated Fund at the right time; PPP govt failed to pass CGX funds through govt accounts- Finance Minister

Finance Minister, Winston Jordan says the US$18 million signing bonus from ExxonMobil will be paid into Guyana’s Consolidated Fund whenever government decides to use the funds for the intended purpose. “The 18 million is in a special account at the Bank of Guyana. It’s there because it’s designed for a special purpose. whenever that special purpose is activated, the monies ...

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Key ILO reports Enabling Environment for Sustainable Enterprises (EESE), and Skills for Green Jobs to be launched in Guyana

The Consultative Association of Guyanese Industry (CAGI), with technical support of the International Labour Organization (ILO), recently completed an assessment of the Enabling Environment for Sustainable Enterprises (EESE) in Guyana, the ILO said Tuesday. The final report and an action plan for the implementation of recommendations will be presented at a high-level tripartite event on Friday, December 15, 2017 at the ...

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