{"id":13614,"date":"2023-11-06T13:29:53","date_gmt":"2023-11-06T13:29:53","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=13614"},"modified":"2023-11-06T13:29:54","modified_gmt":"2023-11-06T13:29:54","slug":"president-dr-irfaan-ali-announces-local-content-facilitation-fund-at-actif2023","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/president-dr-irfaan-ali-announces-local-content-facilitation-fund-at-actif2023\/","title":{"rendered":"President Dr. Irfaan Ali Announces Local Content Facilitation Fund at ACTIF2023"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>The second annual AfriCaribbean Trade and Investment Forum (ACTIF2023) commenced today at the Marriott Hotel in Georgetown, Guyana. <\/p>\n\n\n\n<p>President Dr. Irfaan Ali announced a pivotal initiative aimed at enhancing the cash flow for local oil and gas service providers through the establishment of a Local Content Facilitation Fund in collaboration with the African Export Import Bank (Afreximbank).<\/p>\n\n\n\n<p>This strategic move addresses the longstanding concerns of local service providers who have faced delays in receiving payments. <\/p>\n\n\n\n<p>Drawing inspiration from successful models implemented in Angola and Nigeria, President Dr. Irfaan Ali emphasized the importance of supporting companies with improved cash flow.<\/p>\n\n\n\n<p>Additionally, the government is in the final stages of negotiations for a US$15 million facility dedicated to supporting local small and medium-sized businesses.<\/p>\n\n\n\n<p>In a significant development, Professor Benedict Oramah, President of the Afreximbank, announced that a total of US$1.5 billion in concessional financing is now available to all Caricom member states, with the potential to reach US$3 billion. <\/p>\n\n\n\n<p>He further revealed that over US$2 billion in deals have been finalized, with Guyana set to benefit from this substantial financing.<\/p>\n\n\n\n<p>For Guyana specifically, an agreement for a 500 million dollar transaction to support accelerated infrastructural development projects of the Guyanese government is underway and is anticipated to be formalized during the forum.<\/p>\n\n\n\n<p>The second AfriCaribbean Trade and Investment Forum 2023 is being held under the theme &#8220;Creating a Shared Prosperous Future&#8221; from October 30\u201331, 2023.<\/p>\n\n\n\n<p><strong><em>[Reported by Josiah Williams, NCN Guyana]<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The second annual AfriCaribbean Trade and Investment Forum (ACTIF2023) commenced today at the Marriott Hotel in Georgetown, Guyana. President Dr. Irfaan Ali announced a pivotal initiative aimed at enhancing the&hellip;<\/p>\n","protected":false},"author":4,"featured_media":13615,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,363,350,367],"tags":[],"class_list":["post-13614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-national-transformation","category-news","category-one-guyana"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/13614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=13614"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/13614\/revisions"}],"predecessor-version":[{"id":13616,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/13614\/revisions\/13616"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/13615"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=13614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=13614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=13614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}