Latest update April 6th, 2025 11:06 AM
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Guyana collected $5.3B EU sugar support in 2012
– drew down $24.7B since 2006
Government collected 19.7M euro (G$5.3B) in December as part of the ongoing sugar support measures.
According to a joint statement from the Ministry of Finance and the European Union Delegation in Guyana, the disbursement was made under the 2011/2012 “Accompanying Measures for Sugar Protocol Countries affected by the Reform of the EU Sugar Regime” programme.
The measures were developed by the EU to help Guyana and other sugar-producing nations deal with the fallout of the controversial removal of protected quota system to the members of that trade body, which includes Britain.
The Enmore Packaging Plan
According to the statement, since 2006, when the programme started, the European Union has made available 91.5M euro to Guyana, equivalent to more than $24.7B at today’s exchange rate.
“A further amount, up to 23.4M euro is scheduled to be disbursed in 2013 on signing of the Financing Agreement for the 2012 /2013 programme, which is expected in the near future.”
Both parties stressed that the disbursements have assisted the delivery of the Guyana National Action Plan (GNAP), which focuses on adaptation of the sugar industry by measures which include the upgrading of sugar factories, adding value through sugar packaging and co-generation of power, increasing sugar production and mechanizing field operations, thereby enhancing the competitiveness and productivity of the sector.
“The disbursements are determined on the basis of the Government of Guyana (GoG)’s achievement of general macro-economic conditions as well as indicators that monitor the sugar industry’s performance. Funds are also channelled towards studies, evaluations and audits to ensure effective implementation.”
The EU said it will continue to work with the GoG in ensuring that the overall response strategy to the Reform of the EU Sugar Regime is aligned to the GNAP which was submitted in March 2006.
“The programme has seen seven consecutive years of disbursements to date.”
Guyana’s sugar industry has fallen from being top earner as labour worries, falls in prices and outdated equipment combined to make it hard to compete.
Several Caribbean countries have pulled out from the sugar business, but Guyana has remained committed. It has invested more than US$200M in a new factory at Skeldon, mechanisations of field operations, and a new packaging plant at Enmore.
Recently, the EU’s agricultural arm voted to extend the deadline, to 2020 from 2015, for the opening of the market there, giving Guyana a little breathing space to get its house in order.
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