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Thursday, 06 January 2011

Belize to receive over BZ$62 million for rural development and sugar

The government of Belize will benefit from grants valued at close to 24.9 million euros or BZ$62.3 million to assist with projects geared towards rural development, poverty reduction and the sugar sector. Three financing agreements were signed by Prime Minister of Belize Dean Barrow and Head of the Delegation of the European Commission to Jamaica, Belize, The Bahamas, Turks and Caicos Islands, and the Cayman Islands, Ambassador-Marco Mazzocchi Elemanni. The agreements include the 10th European Development Fund (EDF) for 11.8 million euros or BZ$29.5 million for the period 2010-2015, which has been earmarked for the Belize Rural Development Programme Phase II (BRDP II). The EU will contribute BZ$25 million, the government of Belize BZ$2.5 million and the final beneficiaries BZ$1.8 million. The overall objective of the BRDP II is to promote broad-based rural economic growth and reduce the incidence of poverty in the rural communities of Belize. BRDP II will be implemented countrywide using grant contracts through which NGOs, ministries departments or agents can qualify through a competitive process.

Source: Caribbean News Now