The Government of Guyana (GoG) on Friday announced that it has secured a loan from the Caribbean Development Bank (CDB) for the construction of a US$11.6 million Hospitality and Tourism Training Institute.
In a statement, the Finance Ministry said the institute, which is expected to be constructed at Providence, behind the Guyana National Stadium, is intended to facilitate the training of persons to equip them with the necessary skills and qualifications to supply some of the demand required in the country’s tourism and hospitality sector.
“With Guyana increasingly becoming a hub for international visitors in light of the country’s new status of being a major oil producer and exporter, the Irfaan Ali administration has been placing focus on other productive sectors to ensure they receive the necessary financial support to be able to build capacity in order to accommodate the large influx of visitors and foreign investors. Against this backdrop, assistance in the Tourism and Hospitality sector became critical, thus the focus on construction of the US $11.6 M Hospitality and Tourism Training Institute to allow for international training,” it explained.
The loan for the project is one of two that were announced on Friday. The other is a US$112 million loan from the CDB to finance a US$190M Linden to Mabura road upgrade project, which is also being financed by the UK Government and the GoG.
The ministry said both projects had been conceptualised under the PPP/C government prior to 2015 – when the former administration assumed office – and had been in the pipeline since.
