The European Union in December last year disbursed $3.54B to Guyana under the 2007-2010 sugar programme and the coastal zone protection project.
A release from the EU today said that in December, the European Union made payments to Guyana in development assistance under the EU funded Multi-annual Sugar Programme 2007-2010.
The four-year EU programme is worth some $26 billion. Further disbursements of up to $5 billion are planned for 2011, dependent on future performance. The funds are part of the adjustments agreed following EU sugar reforms that cut prices to exporters like Guyana and ended the sugar protocol.
“The programme provides assistance to the Government of Guyana in its efforts to improve the competitiveness and viability of the Guyanese sugar industry. Measures supported include establishing a sugar packaging plant at Enmore and mechanizing Guysuco’s field operations.”
The EU said that the budget support payments made at the end of 2010 also included some $460 million as the first payment under the Sustainable Coastal Zone Protection Project. This provides support to the National Mangrove Management Action Plan, which aims at rehabilitation, protection and sustainable use of mangroves.
The project contributes to rehab of mangrove fields in selected areas; mangrove mapping and monitoring and input towards the forest plan which is being prepared and public awareness and community involvement. Further releases of up to $550 million are dependent on the future performance of the project.
