$125 Million MCC Grant to Lower Electricity Cost and Improve Education

The objectives set out under the MCC’s grant agreement is to be accomplished within a period of five years. So, what are the immediate areas of priority for the Briceño administration?  Minister of Finance, Christopher Coye provided some details.

 

Christopher Coye, Minister of Finance

“In connection with education, I think everything has to be tied back to the root causes of the constraints to economic growth in education and the equality of education and how that translates over towards the labor force. So, focus areas will include education, quality improvement that already ties in with work that is being done by the ministry of education to complement that work. Alongside that will be training as well. So we have talked about teachers training, all the work being done. This will support that, but in a broader sense. Those would be specific areas in focus and for implementation. The implementation period is over five years. It is not an overnight thing. A lot of work ties into what the constraints are and how we will address those challenges. In energy it gets technical. There will be a lot of policy development. A crucial part of the work is the development of the grid code so that there is more efficient use of electricity through our grid. There will be some work that we have to focus on and what we want to advocate for is support in battery energy storage and how much of that grant can assist us in funding battery energy storage.”