Guyana: Special oil fund should be set up for Indigenous peoples – NTC chair

A PERCENTAGE of revenues from the impending oil and gas industry should be placed into a special fund for development within Indigenous communities, Chairman of the National Toshaos’ Council (NTC), Nicholas Fredericks, said in an exclusive interview with the Guyana Chronicle.

Though cognisant that the National Assembly, in January 2019, passed a bill for establishment of a Natural Resources Fund, Fredericks believes that a special fund should be created to allow Indigenous communities to access finance for the execution of developmental projects when the country starts raking in revenues from the oil and gas industry in 2020.

“We keep hearing about the Sovereign Wealth Fund, but maybe [there should be a] call for a special fund for interior communities where you can develop your proposal and access finance from this fund to implement your village project,” the NTC chairman told this newspaper.


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