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EU aid to Barbados


Monday, 10 December 2012

EU aid to Barbados

The European Union will provide €40 million, as part of a new financial grant assistance to Barbados that is aimed at developing for human and investments in renewable energy initiatives.
The new funds will bring Barbados' current active portfolio with the EU to Euro 55 million.
Barbados’ Human Resource Development programme is to benefit from a further injection of Euro 34 million by the end of 2013, while Euro 5.8 million has been set aside for renewable energy, according to a statement from the Delegation of the European Union to Barbados and the Eastern Caribbean.
Also, a significant amount of EU grant aid provided to Barbados represents support to countries affected by the reform of the EU sugar regime in 2006 which led to a 36 per cent reduction in the price of sugar.


Source: caribbean360

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