The European Union has said it has disbursed Gy$3.54 billion to Guyana as budget support in development assistance under the EU-funded multi-annual sugar programme for 2007-2010.
The programme provides assistance to Guyana’s efforts to improve the competitiveness and viability of the sugar industry, the EU Delegation in Guyana said in a statement. Measures supported include establishing a sugar packaging plant at Enmore and mechanizing GuySuCo’s field operations. The four-year EU programme is worth some Gy$26 billion overall. Further disbursements of up to Gy$5 billion are planned for 2011, dependent on future performance of the sugar industry. The funds are part of agreed adjustments following EU sugar reforms that ended the sugar protocol and cut prices paid to exporters like Guyana.
The budget support payments made at the end of 2010 also included some Gy$460 million as the first payment under the Sustainable Coastal Zone Protection project, which provides support to the implementation of the National Mangrove Management Action Plan, which aims to facilitate rehabilitation, protection, and sustainable use of mangroves. The project contributes to the rehabilitation of mangrove fields in selected areas along the coast; mangrove mapping and monitoring; input towards the forest plan, which is being prepared; and public awareness and community involvement.
