Jamaica to get $1.3 billion in budget support from EU
JAMAICA is to receive ¤9.2 million euros ($1.3 billion) in budget support, the European Union (EU) revealed this week.
This adds to the ¤7 million already paid in September, the EU said, adding that the disbursement will be made in two tranches.
The disbursements were announced by Andris Piebalgs, EU commissioner for development, at a meeting in Washington with Jamaica’s Finance Minister Dr Peter Phillips last Saturday.
“The two disbursements relate to programmes supporting the continued and successful implementation of the Jamaican Strategy for the Adaptation of the Sugar Industry 2006-2020,” the EU said in a news release. “More particularly, they aim at improving the standards of living and well-being of the Jamaican communities living in sugar-dependent areas.”
According to the EU, the programme has contributed to creating a commercially viable sugar cane industry by the completion of the sector privatisation and social developments which include:
a) alternative livelihoods which have been supported with 5.300 micro-grants approved to vulnerable workers; and
b) improved facilities (including housing) and services at schools and clinics granted to displaced workers and their families.
The EU said that the Jamaican Government remains committed to macro-economic stability policies and is making every effort towards Public Finance Management Reform.
“The Cabinet has demonstrated its steadfastness, especially into the reform agenda, by most recently approving the Public Financial Management (PFM) Reform Action Plan. The definition of a clear co-ordination mechanism with donors and follow-up of the reform is also appreciated,” the EU said.
Commissioner Piebalgs, the EU added, congratulated Minister Phillips for the achievements so far and encouraged him to continue efforts in the near future.