GEORGETOWN, Guyana, (CMC) – Guyana on Wednesday signed a five-million euro agreement with the European Union (EU) to maintain its forest and natural resources, as well as strengthen sustainable development specifically in Amerindian communities.

President Dr Irfaan Ali signed the grant agreement with the visiting Deputy Secretary General of European Union Action Service, Helena Konig, following high level discussions at the Conference of the Parties (COP) 27 in Egypt last November.

With the funding, Amerindian communities in Guyana will create sustainable business ventures that will reduce the pressure on its natural resources, and overall, preserve the forest and its biodiversity.

Ali said the partnership is essential to addressing global challenges, noting that it matches his administration’s efforts of creating a low carbon economy and supporting sustainable livelihoods.

He told the signing ceremony that Guyana is working to be at the forefront of sustainable forest management, specifically on the utilisation of the forest for transformation of countries by creating a social, economic and sustainable model.

“Guyana’s forest is not just standing trees but an important asset that provides global services, and in the provision of this global service, it is only fair that the forest earns for the country and its people who ensure that it stays intact, in support of those global services,” Ali said.

He said Guyana and the EU have been partners working together to advance the vision of enhancing the role of Guyana’s forest in sustainable and inclusive national development.

“I am very pleased that we are advancing the process to implementation so quickly after the initialing of the country’s agreement. This partnership with AFD and WWF is underpinned by focus on what works, moving to create practical solutions, development challenges and addressing the vital role that forests play in overcoming these challenges.

“Sustainable livelihood sits at the heart of this endeavour as when we create the opportunities for people for economic advancement and social upliftment, we provide them with resources to make decisions to safeguard the environment and protect the forest,” President Ali added.

He said importantly, the programme will ensure coherence and strengthening of government initiatives in the region. For example, the carbon credit sales of which 15 per cent will go to projects in Amerindian communities.