THE European Union (EU) says it has made payments to Guyana in development assistance this year totalling more than € 25 million.

A statement from the EU said: “A payment of € 19.338.400 as part of the EU funded Multi-annual Sugar Programme 2007-2010 supports the Government of Guyana in improving the competitiveness and viability of the Guyanese Sugar Industry.’

It added that this assistance is provided through a direct budget support mechanism and the disbursements are made based upon the achievement of performance indicators that monitor the implementation of the sector policy on sugar. The EU formulated its overall response strategy following the submission of the Guyana National Action Plan on Sugar in March 2006.

Another payment of € 6.13 million was done in the framework of the Poverty Reduction Budget Support to Guyana which commenced in 2004 and has an envelope of € 41.2 million. The programme is executed through the disbursement of fixed and variable tranches directly to the national budget to bridge the budgetary gap. To date a total sum of € 33.43 million out of the € 41.2 million has been disbursed for that purpose.