The European Union (EU) on Tuesday apologised for mistakenly increasing the amount of support given to the Guyana government for the sugar industry.
At a press conference held on June 29, the Head of the EU Delegation here Jernej Videtiè said some $348.5B was given to Guyana for the sugar industry instead of $34.5B. That amount was immediately rebutted by the former People’s Progressive Party Civic (PPP/C) administration.

The PPPC through former presidents Bharrat Jagdeo and Donald Ramotar maintained that the EU had only given Guyana $34.5B. Jagdeo had described the statement by the EU as “a total falsehood” the sum initially stated by the EU as compensation for the 36 per cent cut in preferential market for sugar.
“In fact, the total sum paid to Guyana is approximately $30B. Indeed, the final installment of $5.4B was paid to the Coalition government in October last year,” said Jagdeo.

However, on Tuesday the EU said “the figure EURO 166,667, 000 was given as the amount granted by the European Union in budget support to the sugar industry in Guyana between 2006 and 2013. While this is the correct figure, the corresponding amount in Guyana dollars was inadvertently given as $348.5B, when it should have been approximately $34.5B depending on the exchange rate.”
As such, the EU said the amount allocated represented EURO 166,67M or GY$34.85B. “The Delegation of the EU sincerely regrets any confusion caused,” the statement concluded.