BRIDGETOWN, Barbados – The Barbados-based Caribbean Development Bank (CDB) has approved a US$280,906 grant to implement a food traceability system designed to boost the export of leafy greens and pineapples in Guyana.
(File Photo)The CDB said that the pilot will lay the foundation for a traceability system throughout the agro-food value chain while collecting insights on the system’s impact and providing solutions to mitigate risks.
CDB said it entered the partnership with the Guyana government because of the vital role agriculture plays in driving economic expansion, generating employment opportunities and fostering food security at both the local and regional levels.
“Food traceability is becoming a requirement for access to regional and international markets and many countries, including emerging economies, have put traceability systems in place,” said the acting head of the CDB’s Private Sector Division, Lisa Harding.
“Food traceability also represents one of those areas in which critical investment is required as it is an essential element of food safety,” she added.
The region’s premier financial institution said that the anticipated upturn in food production and subsequent increase in the consumption of agro-processed products locally and regionally means the bank’s assistance will help bolster Guyana’s agricultural production processes, cultivate enhanced customer loyalty, and consumer confidence and increase that country’s overall competitiveness in the international market.
“The project holds considerable importance for the Guyana government in its efforts to enhance the national food safety system, in line with CARICOM’s goal of reducing the regional import expenses by 25% by 2025,” said the DB’s Division Chief, Social Sector, Martin Baptiste.
“It is also critical, as Guyana, which is often referred to as the food-basket of the Caribbean, is central to policy initiatives which serve to strengthen food security within the region,” said Martin, highlighting the significance of a traceability system in Guyana.
The CDB said the collaboration with Guyana furthers its drive to increase production resilience and achieve the Sustainable Development Goals in its Borrowing Member Countries (BMC).
“Additionally, the program is expected to contribute to the region’s agricultural development and food security objectives. ”
