Last Updated on Thursday, 19 October 2023, 10:57 by Written By Denis Chabrol
The Inter-American Development Bank (IDB) approved a US$90 million loan to contribute to human capital development in Guyana, the hemispheric bank said Wednesday.
The loan approved by the IDB’s Board of Executive Directors is designed to expand access to safe and improved learning environments and enhance educational services for vulnerable students in Guyana. This is the first individual operation of a conditional credit line for investment projects (CCLIP) valued at US$150 million.
This first project supports the foundation for transforming Guyana’s education sector by improving the quality of the service and addressing regional differences in the delivery of education in the country.
In particular, the loan approved seeks to modernize the physical infrastructure of Guyana’s schools, a key driver for improving attendance rates, motivating teachers, and elevating learning outcomes. This operation includes the construction of six new primary schools and upgrade of 19 schools in Hinterlands regions (1, 7, 8 and 9) by improving physical and digital facilities to meet 21st-century standards. This includes providing essential services, such as electricity, water, connectivity and digital devices.
Recognizing the critical role of quality teaching in developing 21st-century skills, and the main determinant for student learning and skill development, the program places emphasis on the continuous professional development of teachers to improve their teaching of 21st-century-skills and child-centered pedagogies.
In addition, the program will strengthen the Ministry of Education’s capacity to deliver improved educational services to vulnerable students and those with special education needs and disabilities (SEND). This includes developing a language policy that will guide interventions for indigenous students in the future and an inclusive education policy.
The project will benefit 8,809 primary education students and their respective communities through its interventions. The newly constructed schools will provide 2,610 new primary education spaces. At least 7,341 students and 352 teachers from grades 2-6 will receive digital devices to support their teaching and learning.
The US$90 million IDB loan has a grace period of 5,5 years, an amortization period of 25 years, and an interest rate based on SOFR.
