Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr Ashni Singh yesterday signed a Climate Resilient Debt Clause (CRDC) Agreement with the World Bank along with an agreement for the activation of the World Bank’s Rapid Response Option (RRO).
The agreements were signed at the Ministry of Finance.
A release from the ministry said that the CRDC is a debt management tool that allows for the deferral of debt payments for up to 2 years should Guyana experience a natural disaster such as flooding.