President of the Caribbean Development Bank (CDB), Dr. Warren Smith, has encouraged the Government of Guyana to take advantage of the Bank's relatively new low-cost facility, the Climate Action Line of Credit. Dr. Smith was speaking on Thursday, June 27, 2013 in Georgetown at the opening of an Investment Conference on "Maximising Opportunities for Investment in Guyana". Dr. Smith highlighted environmental management and climate resilience as one of four areas for sustaining investor interest and promoting long-term growth in Guyana. He noted that the low-cost facility could be used by Guyana to pursue its objectives of building climate resilience and improving environmental management. "Guyana can access a relatively new USD65.3 million Climate Action Line of Credit. The European Investment Bank-funded Line will provide concessionary resources for climate change related interventions such as energy efficiency, renewable energy, forestry and land use, low carbon technologies, and adaptation," the CDB President said. The other three areas mentioned by Dr. Smith as being critical to investor interest and growth are macro-economic stability, the cost of doing business, and human capital development. The CDB President emphasised that the Bank has been a long-term partner with Guyana in the efforts to improve investment and growth in the country, as a stepping stone to systematic poverty reduction. He also informed the audience that's CDB Board of Directors this year approved a new USD47 million country strategy for Guyana. This strategy emphasises tackling poverty by increasing access to basic social services; improving skills to take advantage of emerging job opportunities; enhancing competitiveness; and responding to climate change through coastline protection. This new strategy includes a USD7 million grant under the Bank's Basic Needs Trust Fund (BNTF) 7 programme. CAPTION: CDB President Dr. Warren Smith encouraged the Government of Guyana to take advantage of the Bank's relatively new low-cost facility, the Climate Action Line of Credit, during his address at the Opening of the Guyana Investment Conference yesterday.