Inter-American bank invests in Suriname's environment 📈

Happy Monday!

This week we cover the investment from the Inter-American Development Bank into Suriname’s Bigi Pan Lake in Nickerie, as well as increases in social benefits for Surinamese citizens and a cost estimation on the building of the Corantijn River. We also give an update on expected changes in Suriname’s electoral system.

The Inter-American Development Bank (IDB) invests in the promotion of Bigi Pan Lake.

• Suriname will receive a grant of US$1.52 million from the Inter-American Development Bank (IDB) to protect Bigi Pan in Nickerie. Bigi Pan is a big lake in Suriname that is home to mangroves and swamp areas which millions of birds flock to during migratory seasons.

• The funding aims to restore and preserve the mangrove in the Bigi Pan Multiple Use Management Area as well as promote sustainable livelihoods for local communities. In Suriname, the project is led by the Anton de Kom University of Suriname and is part of the IDB's blue carbon projects in Latin America and the Caribbean, funded by the UK's Blue Carbon Fund.

• The primary objective is to restore 1,200 hectares of mangroves and protect 2,200 hectares using nature-based solutions. Strategies include installing sediment trapping units, establishing sustainable harvest programs, and implementing livelihood initiatives.

• Collaboration with government agencies, civil society organizations, and the private sector aims to strengthen institutional capacities in mangrove management. The grant highlights the crucial role of mangroves in protecting against coastal threats, as such, the IDB remains committed to preserving Suriname's environment.

The Corantijn River Bridge from Suriname to Guyana is estimated to cost US$523 million.

• The estimated cost for the bridge over the Corantijn River in Suriname has been revised to US$523 million, according to engineering firm WSP Caribbean.

• The Ministry of Public Works has presented the detailed results of preliminary studies for the bridge's construction and qualified construction companies can now submit their final bids to construct the bridge.

• The bridge will be built using the Design-Build-Finance-Operate-Maintain model under a public-private partnership. Following the completion of studies, high-level discussions between Suriname and Guyana will take place to make important political decisions.

• The studies conducted by WSP Caribbean included various assessments and analyses related to the bridge. The chosen construction companies will need to adhere to the DBFOM approach, taking responsibility for the design, financing, maintenance, and eventual transfer of the bridge.

• Five companies, including China Road and Bridges Corporation and China Harbour Engineering Corporation, are participating in the bidding process.

• The discussions will address legal matters and the allocation of resources between Suriname and Guyana. Cooperation between the two countries is crucial for the successful construction of the bridge.

Increasing Social Benefits from pension to childcare allowance.

• The government has increased several social benefits from July 1in Suriname. The General Old Age Pension (AOV) will rise from SRD 1,250 to SRD 1,750, while the General Child Allowance (AKB) will increase from SRD 125 to SRD 200 per child.

• Financial Assistance for Persons with Disabilities will be raised from SRD 1,750 to SRD 2,500, and Financial Assistance for Vulnerable Households will go up from SRD 1,250 to SRD 1,750.

• During a recent Cabinet meeting, a decision was made to increase financial support for those socially vulnerable and the government aimed to increase these benefits. These measures seek to promote social justice and enhance the well-being of the Surinamese population.

• People with disabilities who are eligible for AOV will retain their entitlement to Financial Assistance for Persons with Disabilities.

• Additionally, individuals aged 60 and above who receive AOV can apply for Financial Assistance for Persons with Disabilities and/or Vulnerable Households. According to the government, these measures demonstrate their commitment to supporting those in need.

Updates on the changing of Suriname’s Kiesstelsel (Electoral System).

• In an update on the ongoing changes in the electoral system, President Santokhi stated that he has received the final report on developing different electoral systems for Suriname.

• The government will discuss the report and decide on the electoral system in the coming weeks. The core change in the electoral system that currently is skewed towards smaller provinces in the country that can allow a large swath of votes to come from less populated areas and thus win seats in the election has long been the subject of revision.

• The change would guarantee seats in the parliament to parties that gain the most votes overall by each person rather than the current provincial system that allows parties to gain seats in under-populated areas not equally represented to more populated cities, like the capital, Paramaribo. The president has reiterated support for the principle of one person, one vote to ensure that every vote counts.

• The National Assembly has also received initiative proposals for amending the Electoral Regulation. Ultimately, 34 votes in Parliament will be needed to approve the new electoral system.