SUGAR RHB & PRIV

closed

Guyana's economy is mainly based on the production of bauxite, sugar and rice. Improving the efficiency of the sugar industry is vital to Guyana's economy. The production of sugar was reduced, initially because of world prices. Under Government ownership the output has continued to drop. The purpose of this Sugar Industry Restructuring and Privatization Project is to help secure the Guyana Sugar Corporation Limited's (GUYSUCO) present level of production and financial viability, and to ensure the long-term technical and financial viability of the sugar industry by helping the Government restructure and privatize GUYSUCO. The project comprises two components: capital investment in priority operating factory equipment and machinery to stabilize sugar production at the present rate; and technical assistance in the form of financial advisory and management services.