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Thursday, 23 June 2016

Fiji: Budget Support To Come From EU

Funds in the form of budget support will be coming Fiji’s way through the European Union. EU officials in Brussels have confirmed that budget support for sectors such as agriculture (sugar) amongst others will be coming Fiji’s way. It is understood that F$10million has already been committed under the budget support programme for the country’s sugar industry. This has also been confirmed by the Fijian mission in Brussels. Budget support involves direct financial transfers to the national treasury of the partner country – conditional on policy dialogue, performance assessment and capacity-building. This is a way of fostering partner countries’ ownership of development policies and reforms and addressing the source, not the symptoms, of underdevelopment. Budget support accounts for around a quarter of all EU development aid.

Source: fijisun.com.fj