President David Granger has been commended by the President of the Inter-American Development Bank for his leadership in ensuring that the necessary systems and policies are put in place to manage the looming oil and gas sector and the wealth which will be accrued.

The President met with the visiting IDB President, Luis Alberto Moreno, on Monday at State House.

According to a statement from the President’s Office, during a meeting, the IDB President noted that President Granger’s leadership in the area of preparing Guyana for the oil and gas sector, cannot be understated and the benefits of it will be seen in the management of the sector when it comes on stream.

“I think when people write the history of Guyana some years from now, they will look at this period in time and see how the Guyanese people and the Guyanese leadership thought about how they can deal with one of those things that can only happen in once in a lifetime. It is in this regard that we have been privileged to work with you President Granger, as you prepare things that are so timely like your Sovereign Wealth Fund and as you continue to push forward. Your leadership in this has been very central and we are very happy to be side to side with you. I am convinced that the best days of Guyana are ahead of us and they would be materialised largely for all the work that you have been doing to cement that future for the Guyanese people,” he said. 

President Granger said that he welcomes the support of the Bank and looks forward to working more closely with the institution in the coming months in other areas such as climate related financing, infrastructure development and support for migrants. 

“I want to express our appreciation to you for your concern towards Guyana. We are certainly very appreciative of your stewardship and we wouldn’t have gotten this far if you didn’t have Guyana at heart. We have a long-standing relationship with the Bank and especially with your support in the oil and gas sector. The Bank has been at the forefront and has given significant support. We will continue to look forward to your support as we try to build very strong, sturdy and robust policies for the sector,” President Granger said. 

The IDB President has assured that the Guyana Government can look forward to continued support from the entity as it seeks to enable the country to benefit in the best ways possible.

President Granger and Mr. Moreno also used the opportunity to discuss the Guyana/ Venezuela border controversy as well as support and possible areas of collaboration for climate financing and to advance dialogue on the ‘Guiana Shield.’

Meanwhile, at a special luncheon held at the Baridi Benab immediately after the meeting, Minister of Finance, Mr. Winston Jordan in his remarks said that Mr. Moreno’s visit is the first under this administration and serves as a testimony of the long and enduring friendship between the Bank and Guyana. 

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