Amerindian communities to receive $4 Billion this year from sale of carbon credits

Amerindian communities across the country are set to receive more than $4 Billion in payout this year from the Government from the sale of carbon credits to the Hess Corporation.

Addressing indigenous leaders at the ongoing National Toshaos Conference, Vice President Bharrat Jagdeo said the payment represents about 21% of the resources from sale of the carbon credits.

He said although less funds were received this year, the government is maintaining the same amount of money that was given to the more than 240 villages last year.

Mr. Jagdeo told the leaders that there have been efforts by the Amerindian People’s Association to block the funds, with questions being raised about the use of the funds.

“But they continue with the lie, this fallacy that you the Toshaos are not representing what your people truly wants and that they don’t want the LCDS money and therefore the international community should stop this money from coming but this is money that we earn as a country. For the first year US$22.7m, the second was $23.27m and this although we have received less this year, we have kept the US$23.27m to be given to the communities,” Mr. Jagdeo told the village leaders.

Over a 10-year-period, Guyana is expected to receive a minimum of US$750 million from the Hess Corporation for the sale of high-quality carbon credits

The sale of carbon credits forms part of the Government’s Low Carbon Development Strategy (LCDS) 2030, which is designed to monetize the country’s climate and ecosystem services.

In addition to the grants, the Vice President also announced that each village will receive $3 million to assist villagers with housing upgrades. Those funds are expected to be managed by the village councils.

Further, he said every village will receive an addition $1 million for the development of sporting grounds.

Mr. Jagdeo said a number of villages are also benefitting from upgraded roads and bridges upgrades.

“We are also going to be spending money on developing housing schemes in these communities that will get the full support of the government. Ultimately, we would have to connect all of the communities in region 8 to region 9 through a proper road and we will continue to allocate contracts to those communities so that they can build the connector roads,” Mr. Jagdeo promised.

You must be logged in to post a comment Login