EU releases €24.4M sugar funds

Oct 26, 2016 News

…money was suspended during prorogued Parliament

Stefani Manservisi, Director General, for International Cooperation and Development of the European Commission, with Finance Minister, Winston Jordan yesterday in the Dominican Republic.

Stefani Manservisi, Director General, for International Cooperation and Development of the European Commission had handed over to Guyana €24,424,000 euros.
According to the Ministry of Foreign Affairs last evening, this sum is related to the action programme adopted by Guyana which would see the European Union (EU) release monies periodically as part of the Accompanying Measures Programme (AMP) for sugar.
The disbursements had been suspended following the prorogation of Parliament by former President Donald Ramotar in late 2014.
Manservisi made the presentation during the Meeting of Ministers of Foreign Affairs of the Community of Latin American and Caribbean States and European Union (CELAC-EU) which is being held in Santo Domingo, Dominican Republic.
It will be recalled that 1.2 billion Euros was set aside by the EU to assist the African/Caribbean and Pacific (ACP) countries to reform their sugar sector in order to improve their competitiveness or to diversify out of sugar.
In releasing the resources, the European Commission has indicated that the Government of Guyana has made remarkable progress and commendable efforts in terms of budget transparency and accountability.
“…Manservisi emphasized that the European Union is committed to continue assisting Guyana in its transformation,” the Ministry of Foreign Affairs said.
In the absence of Foreign Minister Carl Greenidge, who is currently accompanying President David Granger on a state visit to the Republic of Chile, Finance Minister, Winston Jordan, is heading this country’s Foreign Affairs delegation.
The other members of the delegation to this CELAC-EU Foreign Ministers Meeting include David Hales, Ambassador of Guyana to Belgium and the EU and Vonetta Victor from the Ministry of Foreign Affairs, Georgetown.
During the meeting, Foreign Ministers of CARIFORUM will hold discussions with Federicia Mogenerini, High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission, today.
Guyana’s National Coordinator to CELAC is Ambassador Audrey Jardine-Waddell, Director General of the Ministry of Foreign Affairs.
The CELAC-EU has enjoyed privileged relations since the first bi-regional Summit in 1999 which established a strategic partnership.
CELAC-EU relations are structured around biennial summits, Minister of Foreign Affairs meetings and regular senior officials meeting as well as specific thematic dialogue and initiatives, the ministry explained.
Guyana is heavily dependent on the EU sugar assistance since the trading bloc signaled its intentions to lift the preferential market that this country and other ACP states enjoy.
The monies, as mentioned, is to be used by ACP sugar-producing member states to improve efficiency or get out of sugar altogether.
Guyana has used part of the monies to build a sugar packaging plant at Enmore, East Coast Demerara.
Guyana has also received more than €100M since the start of the Accompanying Measures Programme (AMP) for sugar a few years ago.

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