THE European Union and Guyana have just signed a Financing Agreement which will provide up to Euro 18 805 000 (G$5.62B) in 2011 to support the sugar sector in the framework of the Accompanying Measures to the changes in the EU trade regime with Sugar Protocol Countries.
The Head of the EU’s Delegation in Georgetown, Ambassador Geert Heikens, has emphasized the importance of the sugar sector in the economy of Guyana and the vital role that the EU’s support plays in enabling the sugar industry to become more competitive.
This latest grant to Guyana is part of the EU funded Multi-annual Sugar Programme 2007-2010 which supports the Government of Guyana in its efforts to improve the competitiveness and viability of the  sugar industry and to promote agricultural diversification. In particular, it will help to:
–    Increase sugar production and expand market shares
–    Diversify the sugar industry and add value to the final product
–    Improve the efficiency and profitability of sugar cane and sugar production
–    Reinforce private cane farming
–    Upgrade  factories
–    Provide  skills training in phytosanitary and market standards for agriculture students
The assistance will be provided through a direct budget support mechanism and the disbursements will be triggered by the achievement of performance indicators monitoring the implementation of the sector policy on sugar, as well as progress in the export of agricultural produce. Funds will also be channelled towards studies, evaluations and audits to ensure effective implementation.

A further EUR 74 772 000 (22.35 billion GY$) will be made available to Guyana in the framework of accompanying measures for the sugar industry for the period 2011-2013.

In total EUR 94 million was made available under the 2007-2010 programme.