Even as it complains that the Guyana Sugar Corporation (GuySuCo) is not accounting for monies provided through the $30b bond acquired for the industry, the Special Purpose Unit (SPU) has said it will continue to fund the company.
“Our intention is to continue funding GuySuCo based on requests as long as requests are in keeping with obligations we signed with the trustee’s and bond holders.” SPU head Colvin Heath-London told a press conference at in NICIL’s boardroom yesterday.
According to the bond agreement funds are to be used from the bond facility to purchase equipment for plantation white sugar and co-generation plants and operational expenses, including the purchase of nine tractors. The bond can also be used to facilitate “operational expenses” including wages and salaries.