Georgetown: The Guyana Government collected €19.7M ($5.3B) in December from the ongoing sugar support measures as several Caribbean countries have pulled out from sugar but Guyana remained committed. It has invested more than US$200M in a new Skeldon factory, mechanizations of field operations and a new packaging plant at Enmore.
Under the Ministry of Finance and the European Union Delegation in Guyana, the disbursement was made under the 2011/2012 programme.
The measures was developed by the EU to help Guyana and other sugar producing nation deal with the fallouts of the controversial removal of protected quota system to the members of that trade bodies, which include Britain.
“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.”
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