GEORGETOWN, Guyana (GINA, January 31, 2009) - The Rural Enterprise and Agriculture Development Project (READ) that will benefit approximately 28, 000 people in rural farming communities will be launched on Monday.

This project is funded and approved by the International Fund for Agricultural Development (IFAD) and is estimated to cost US$6M. Negotiations for the project were finalized between Minister of Agriculture Robert Persaud and IFAD Officials during a meeting on November 22 and 23, 2007 in Rome, Italy.

Arising out of the negotiations, US$3M of the total project sum will be provided as a grant. The remaining resources will not attract interest, but Guyana will be required to pay a service charge for the project.

It will include various components including a Rural Enterprise Grant to develop production and marketing systems in Regions Two, Three, Four, Five, Six and Ten. This will include the provision of ?matching grants' where the beneficiaries will be required to make contributions to various sub-projects with the remaining resources being provided through READ.

A component for technology development and transfer will enable assistance to be provided for the introduction of technology, technical assistance and training. This may include establishment of various demonstration facilities that will seek to promote agro-processing and packaging activities to clusters of farmers, the Agriculture Ministry said.

The Ministry said READ is intended to increase the incomes of rural households with focus on women and other vulnerable groups by linking producers to markets and strengthening producers, women, youth and local organizations to support growth and sustainability of enterprises and development of targeted communities.

Additionally, the initiative aims to alleviate poverty and promote income generating activities through agricultural and rural diversification with emphasis on non-traditional products.

The event which will be held at the National Agricultural Research Institute, (NARI), East Coast Demerara will be attended by farmers and senior officers within the Ministry of Agriculture and other stakeholders.