IDB approves US$350m loan for social protection

The Inter-American Development Bank (IDB) Board of Executive Directors has approved a US$350 million policy-based loan to Guyana, underpinning the country’s ongoing efforts to modernize and expand its social protection systems.

A release yesterday from the Bank said that in approving this second and final operation in a programmatic series (the first of which was co-financed with Global Affairs Canada), the IDB recognizes Guyana’s “strong macroeconomic performance and its commitment to inclusive social reform”.

The release said that the loan will support the Ministry of Human Services and Social Security (MHSSS) in enhancing the efficiency and reach of its social safety net, with a focus on digital transformation, inclusion, and empowerment of vulnerable groups. Key components of the programme include: