THE European Union (EU) transferred a sum of €19.7 million (Gy$5.3 billion) in December 2012 to the Government of Guyana (GoG) under the 2011/2012 ‘Accompanying Measures for Sugar Protocol Countries affected by the Reform of the EU Sugar Regime’ programme.

This disbursement was provided as Sector Budget Support, according to a joint statement yesterday from the European Union Delegation in Guyana and the Ministry of Finance.
Since 2006, when the programme started, the European Union has made available
€ 91.5 million to Guyana, equivalent to more than Gy$24.7 billion at today’s exchange rate.
A further amount, up to € 23.4 million, is scheduled to be disbursed in 2013 on signing of the Financing Agreement for the 2012 /2013 programme, which is expected in the near future.
The disbursements have assisted the delivery of the GNAP, which focuses on adaptation of the sugar industry by measures which include the upgrading of sugar factories, adding value through sugar packaging and cogeneration, increasing sugar production and mechanizing field operations, thereby enhancing the competitiveness and productivity of the sector.
The disbursements are determined on the basis of the 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.
The EU continues to work with the GoG in ensuring that the overall response strategy to the Reform of the EU Sugar Regime is aligned to the GNAP which was submitted in March 2006. The programme has seen seven consecutive years of disbursements to date.