The Caribbean Development Bank (CDB) has approved a technical assistance grant equivalent to US$250,000 for the University of Guyana (UG) to help it boost capacity.
In a press release, the CDB said its Board approved the sum in order to enhance UG’s ability to carry out its day-to-day operations and to enhance its capacity to effectively undertake its role as a national tertiary education institution in the 21st century.
According to the release, consultancy costs will be financed by the grant to boost UG’s regulatory framework and operational processes, systems and structures.
The consultant will assess the effectiveness, efficiency and sustainability of UG’s corporate systems and operational procedures as well as its capacity to respond to the changing development needs of Guyana. They are also expected to make recommendations on how the institution can best position itself to ensure that its activities are relevant to those needs and how they can be sustained.
Meanwhile, the CDB is giving the Caribbean Regional Technical Assis-tance Centre (CARTAC) an assistance grant equivalent to US$1M to help it implement its programme for 2011-2015.
It said CARTAC is one of seven regional technical assistance centres operated by the International Monetary Fund.
These centres were established to build country capacity in the areas of macroeconomic and financial management. The CDB has provided strong support to CARTAC’s operations since it was conceptualised and established in November 2001.
