GY-T1141 – Implementation of a Secured Transaction Regime and Green Business Framework in Guyana (US$371,828 disbursed) (2018 – 2022)

Counterpart: Ministry of Tourism, Industry and Commerce

Objective: To improve access to credit and the enabling environment for green business development, trade and integration.

Results: The project drafted a legal framework to support secured transactions in Guyana (Secured Transactions Framework), allowing borrowers to pledge moveable property as security for loans in a manner that removes ambiguity. It also established a modern electronic registry for filing notices of collateral agreements, and increased local capacity to manage and maintain the registry. The project also drafted a green policy framework for green business practices to drive investment in Guyana and strengthened local capacity at the Ministry of Business to develop green practice policies and programs. The project also financed a Hire Purchase Bill and training for lawyers both on the Secured Transactions Framework and the Hire Purchase Bill.

The project was stalled during the 2020 change in government as priorities shifted with respect to Secured Transactions and the Ministry of Business (initial counterpart of the project) was subsumed within the Ministry of Tourism, Industry and Commerce. Notwithstanding, the Security Interest in Movable Property Bill was approved in 2024 – paving the way for all movable property assets to qualify as collateral, regardless of type. These include tangible assets like equipment, inventory, crops, livestock and vehicles, as well as intangible assets such as receivables, intellectual property and negotiable instruments. https://mintic.gov.gy/government-enacts-security-interest-in-movable-property-bill-2024-paving-the-way-for-easier-access-to-credit/

During 2025, the IDB will be hosting a study tour of the collateral registry of Guyana to Jamaica, to learn about Jamaica’s experience in implementing their Secured Transactions Framework (also supported by Compete Caribbean in 2014).

GY-T1171 – Developing a Sustainable Tourism Circuit in South Rupununi Guyana (US$233,602 disbursed, with US$82,279 in counterpart financing) (2020-ongoing)

Counterpart: Guyana Tourism Authority and Visit Rupununi

Objective: To foster inclusive and sustainable economic development in the South Rupununi region by developing and packaging market-ready tourism products that meet the needs of cultural and environmental sustainability.

Results: The project supported several initiatives such as the development of tourism product offerings of the cluster, marketing efforts, and capacity building of micro, small and medium entities and indigenous stakeholders in the South Rupununi.

A marketing strategy and a marketing training report were developed which identified the training needs of key stakeholders within the sector. As a result, a training of the trainers program was conducted for ten (10) trainers selected by the Guyana Tourism Authority (GTA) and Visit Rupununi. These trainers also completed an Adult Learners’ training to strengthen their confidence in the delivery of the training sessions. These trainers then led sixteen training sessions which were held between November 2022 and May 2023, with each village receiving three sessions. These sessions covered three main topics: “Introduction to Tourism,” “A Traveler’s Journey & Product Development,” and “Sustainability in Practice & Environmental Impacts.”

A total of 400 individuals (153 men and 247 women) were trained. Notably, this participant group extended beyond MSMEs, as the number of registered tourism-related businesses in South Rupununi is quite limited and fell short of the target. Instead, the project recognized the importance of integrating local communities and villagers to establish a Sustainable Tourism Circuit. Consequently, the participants included Tourism Committee Members, Community Service Officers responsible for tourism in their communities, business owners involved in the Tourism Value Chain (e.g., caterers, farmers, home-stay owners), Village Councillors, and villagers with a general interest in tourism and its operations.

Additionally, an institutional assessment was carried out to enhance and fortify Virtual Rupununi’s (VR) capabilities and improve its financial stability, along with an action plan and support for implementation. VR’s business plan was also revised, incorporating suggestions for improving its governance structure and organizational business model.

A digital payment solutions feasibility report was also conducted to address the problem of how international tourists could make payments to villagers in this very remote region – and identified methods that can be used by tourists to securely pay digitally/electronically at affordable/appropriate fees despite the general lack of telecommunications in the region.

Tourism product refinement exercises were conducted for Aishalton, Katoonarib, Maruranau, Saddle Mountain Ranch, Shulinab, and Kanashen. A familiarization trip for local tour operators was organized, allowing them to experience Aishalton and Maruranau itineraries for potential marketing opportunities. Additionally, six new products were launched, and a comprehensive product development strategy was delivered. Marketing collateral was also designed and provided, focusing on two anchor experiences as well as on the culturally relevant Rodeo. These experiences can now be booked at the website https://visitrupununi.com which was also revamped within this project.

This project benefitted 58 community based tourism firms, of which 34 were women-owned.

RG-T3322 – Technology Extension Services (TES) in the Caribbean (2019-2024)

Objective: Technology Extension Services is a form of innovation policy that sought to accelerate the pace at which Micro, Small, and Medium Enterprises (MSMEs) “catch up” with more advanced firms by transferring cutting-edge technology. This Caribbean-wide project worked with agri-business, manufacturing, and tourism firms.

Results: This project funded 75 technology audits and assessments for MSMEs, with 50 of the firms also benefiting from partial implementation.

Guyana’s Participation

Guyanese firms Herdmanston Lodge and Wilderness Explorers benefited from this intervention.

RG-T3519 – Experiential Learning of Cluster Development Best Practices in Small and Vulnerable Countries (US$80,000 earmarked for the Essequibo tourism cluster, disbursed 100%) (2020-2024)

Counterpart in Guyana: Guyana Tourism Authority (GTA) and the Tourism and Hotel Association of Guyana (THAG)

Objective: To enhance the capacity of Business Support Organisations (BSOs) in small and vulnerable Caribbean countries to function as effective Cluster Support Organisations (CSOs), by enabling them to apply the cluster methodology learnt over the past several months. This TC uses an experiential learning approach to further embed (ie. institutionalize) international best practices in cluster development in Belize, Dominica, Grenada, Guyana, Jamaica St Lucia, St Vincent and the Grenadines and Suriname. This objective is directly in line with the overall focus of the second phase of the Compete Caribbean program – to ensure lasting change beyond its direct activities by piloting and transferring best-practices in private sector development to national entities.

The objective of the Essequibo cluster component of this project was to help indigenous and vulnerable groups and Micro, Small and Medium Enterprises (MSMEs) in the greater Essequibo area to generate revenues from the sale of sustainable and inclusive tourism experiences.

Results: – The project documented cultural assets, proposed new tourism products, designed a new knowledge product in the form of a Tourism Product Development Playbook (TPDP) for the Guyana Tourism Authority, designed a new tourism governance model in the form of a Regional Destination Management Office (RDMO) and completed a resource management plan. Training was conducted with stakeholders on both the RDMO model and the TPDP, and in total six workshops were completed resulting in 106 persons (46 Men and 62 Women) being trained. These activities were so appreciated by the counterparts that the methodologies are expected to be rolled out nationally in Guyana and will aid MSMEs and indigenous stakeholders in developing tourism products using the TPDP and RDMO model for discovering, developing and managing niche Tourism products and services.

This project acted as a pilot and provided inputs to GTA, who is preparing a strategy to rollout nationwide trainings and engagement to support tourism development at the community level as Guyana continues to undergo a substantial economic shift. A new domestic market segment has gained more prominence in light of the oil and gas development, which is largely supported by local Gen Z with increased earnings as well as expat communities, eager to explore other regions within Guyana in search of authentic experiences.

RG-T4003 -Technology Extension Services (TES) in the Caribbean Blue Economy and Essential Services Sectors (US$30,462 disbursed for Guyana) (2021-ongoing)

Objective: To support firms in the blue economy and essential services sectors in the acceleration of technological diffusion, adoption, and upgrading, thus providing support to the Caribbean in diversifying the blue economy and strengthening the delivery of goods and services in the aftermath of the COVID-19 pandemic.

Results: This project delivered technology extension services to a group of businesses in every country. In addition, the project implemented a supplementary capacity building plan for a sub-group of women-owned businesses with growth potential. Beneficiaries from Guyana included: ActionInvest Caribbean Inc; Beharry Group of Companies; and Wilderness Explorers.