World Bank justifies Guyana's HIPC assistance
--- engages Omai/LIMINE officials
Guyana Chronicle
January 19, 2004

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GINA - VISITING top officials of the World Bank yesterday met with Prime Minister Sam Hinds and officials of Omai Gold Mines Limited in Linden for an overview of Omai's investment in Linden Mining Enterprise (LINMINE) and other aspects of bauxite operations in the mining town.

The meeting was held at Watooka House, McKenzie, and saw the participation of Managing Director of the World Bank, Mr. Shengman Zhang, Country Director, Dr. Caroline Anstey, and Chief Executive Officer (ag) of LINMINE, B.O.F Holder.

During an interview with the media before privately held talks with OMAI, LINMINE and other regional officials, Mr. Zhang said the recently published World Bank Development Policy Review Report presented a "fair and objective assessment" of the Guyana situation, as it relates to qualifying for assistance.

Zhang noted that the monetary body recognizes that Guyana needs assistance for basic social services, but he explained that any country that qualifies for assistance, has to meet the stipulated requirements.

On the question of whether the World Bank was satisfied that the report represented the true climate of the country, Zhang said, "Our focus is not to criticize, but to point out possible action that Government may want to take so as to improve its development prospect."

He further pointed out that though a country receives an objective report, this does not suggest that it is perfect, in order to receive HIPC support.

Touching on his interface with the Administration, Zhang said he believes that Government recognises the need to improve in certain areas, and that it has to work in partnership with the World Bank.

Country Director of the World Bank, Dr. Caroline Anstey, said the monetary body was satisfied that Guyana had reached the HIPC completion point, qualifying for funding under the Poverty Reduction Strategy Programme (PRSP).

She added, "HIPC was completed because the programme was on track. The macro economic situation has improved." Guyana has also recorded progress in the last six months and there has been movement in the communiqué, though there is still room for improvement, remarked Anstey.

"Guyana needs our support and we're pleased to be able to reach this point."

Despite problems, Anstey said the World Bank is engaged in discussions with Government and Opposition, since it is important to build on some of the issues in the report.