The Guyana government Monday said it would begin distributing next week cash subsidies to rice farmers that could cost the state an estimated three billion dollars (One Guyana dollar=US$0.004 cents).
In a statement, the Ministry of Agriculture said that the payment is a result of a commitment made during a consultation with hundreds of rice farmers at the Arthur Chung Conference Centre (ACCC) on April 30, as part of the Government’s ongoing efforts to support the rice industry in the face of increasing global challenges. According to the ministry, following the consultations it was agreed that the assistance would be provided through direct cash transfers and as a result, rice farmers cultivating 50 acres or less will receive GUY$15,000 per acre, while those cultivating more than 50 acres will receive GUY$10,000 per acre.
The minstry said through the Guyana Rice Development Board (GRDB), completed the registration process for eligible farmers and, following the conclusion of the harvest, undertook the necessary verification of claims to ensure transparency and accountability.
It said that verification process has now been completed, paving the way for the commencement of payments next week.
Approximately three billion dollars has been allocated by the government for this initiative, with the ministry saying it reflects the government’s ‘unwavering commitment to supporting rice farmers, safeguarding livelihoods, and strengthening Guyana’s rice industry.
‘The government remains committed to working closely with our farmers to ensure that the rice sector continues to grow, remains competitive, and contributes to national food security, economic growth, and rural development,’ the statement added.