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Tuesday, 05 April 2016

St Kitts-Nevis: EC$12.5m from EU as part of sugar adjustment scheme

Prime minister of St Kitts and Nevis, Dr Timothy Harris, and Cabinet Secretary Josephine Huggins met with the European Union’s ambassador to the Eastern Caribbean, OECS and CARICOM/CARIFORUM, Mikael Barfod in Barbados on Thursday morning. The delegation officially learnt from the ambassador that a disbursement of EC$12.5 million (4.2 million euro) to St Kitts and Nevis had been effected one hour earlier. The reform of the EU’s Common Agricultural Policy in 2006 prompted it to establish a sugar adjustment scheme called the Accompanying Measures for Sugar Protocol countries (AMSP). AMSP supports restructuring initiatives in African, Caribbean and Pacific (ACP) countries that traditionally exported sugar to the EU. Barfod told the prime minister and cabinet secretary that the country is set to receive an additional disbursement of EC$12.5 million at the end of 2016. This will mark the completion of the sugar compensation programme for St Kitts and Nevis.

Source: caribbeannewsnow.com

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