The Inter-American Development Bank (IDB) has approved a US$90 million loan to contribute to human capital development in Guyana and six new primary schools are to be built.
According to a release from the IDB yesterday, the loan which was approved by the Board of Executive Directors is designed to expand access to safe and improved learning environments and enhance educational services for vulnerable students in Guyana. Further, this is the first individual operation of a conditional credit line for investment projects (CCLIP) valued at US$150 million.
The release explained that this first project supports the foundation for transforming Guyana’s education sector by improving the quality of the service and addressing regional differences in the delivery of education in the country.
The approved loan aims to modernize the physical infrastructure of Guyana’s schools, seen as a key driver for improving attendance rates, motivating teachers, and elevating learning outcomes. This operation includes the construction of six new primary schools and the upgrading of 19 schools in the hinterlands regions – One, Seven, Eight, and Nine – by improving physical and digital facilities to meet 21st century standards. This includes providing essential services such as electricity, water, connectivity and digital devices.
The programme also recognises the critical role of quality teaching in developing 21st-century skills, and the main determinant for student learning and skill development, and places emphasis on the continuous professional development of teachers to improve their teaching of 21st-century-skills and child-centred pedagogies.
It will also strengthen the Ministry of Education’s capacity to deliver improved educational services to vulnerable students and those with special education needs and disabilities (SEND). This includes developing a language policy that will guide interventions for indigenous students in the future and an inclusive education policy.
The release also said that the beneficiaries of the project include 8,809 primary education students and their respective communities. Also, the newly constructed schools will provide 2,610 new primary education spaces and at least 7,341 students and 352 teachers from grades Two to Six will receive digital devices to support their teaching and learning.
The US$90 million IDB loan has a grace period of 5.5 years, an amortization period of 25 years, and an interest rate based on SOFR [Secured Overnight Financing Rate], the release added.
