<p>The Ministry of Natural Resources, the Geology and Mines Commission (GGMC) and the University of Guyana (UG) signed a Memorandum of Understanding (MOU) for $100 million philanthropic education grant for the year 2017-2018.</p>

<p>The grant will provide the University of Guyana’s Faculty of Technology with much-needed equipment for its geology labs, curriculum development, training, outreach, and field research, all linked to the emerging oil and gas sector. It also provides specific allocations for all other faculties for student-centered enhancements at the university.</p>

<p>Of the total amount, $55M (55%) will be used for equipment and supplies to the Faculty of Technology’s laboratories all of which will be pursued by the GGMC.&nbsp; $15M (15%) will be used for scholarships and training, while $16m each (16%) will go towards the improvements of classrooms and teaching facilities at the Faculty of Health, Earth and Natural Sciences, Humanities and Social Science and Agriculture at the Turkeyen and Tain Campuses and IDCE.</p>

<p>The sum of $7M (7%) will go towards supporting the School for Entrepreneurship and Business Innovation programme with emphasis on the Natural Resources sector; and 7M (5.7%) to support research, curriculum review and development process, marketing, media and stakeholder consultations.</p>

<p>Minister of Natural Resources, Raphael Trotman, who handed over the first tranche of the funds ($45M) to Vice Chancellor Prof. Ivelaw Griffith, at the University of Guyana, Turkeyen Campus, said that the government views the initiative as an investment in education, and youth development.</p>

<p>The minister also noted that timeliness of the projects, adding that it is a significant “it represents a renewed and enhanced relationship with the Ministry, GGMC with the University of Guyana,” even as the oil and gas sector develops.</p>

<p>Further, Minister Trotman stated that research is also needed in the gold and diamond mining sectors as they will not be neglected post-2020 when oil production begins.</p>

<p>Professor Griffith explained that this is one of the university’s most significant grants, which has been negotiated over the last year with the GGMC. Griffith said that it is an investment by the Government in the institution, in an area critical to the nation’s economy.</p>

<p>Meanwhile, GGMC Commissioner, Noel Dennison said that GGMC has a long-standing relationship with the UG. He highlighted the fact that many of the commission’s staff, through scholarships have their education at the institution.</p>

<p>Article adapted from:&nbsp;<u><a href="http://gina.gov.gy/govtug-sign-mou-to-improve-programmes-allied-to-oil-and-gas-sector/">http://gina.gov.gy/govtug-sign-mou-to-improve-programmes-allied-to-oil-and-gas-sector/</a></u></p>
