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Tuesday, 07 February 2012

Guyanese sugar sector will benefit from further EU support

The European Union (EU) will commit funds to supporting Guyana's sugar industry, one of the Caribbean countries worst hit by the cut in sugar prices by the EU. Guyana could receive around EUR 24.9 million this year, 2012.
As CTA Brussels reported, EUR12.5 million was transferred in December 2011 to support the local sugar sector in Guyana. This support, which was part of the EU-funded Multi-annual Sugar Programme 2007-2010, aimed to improve the competitiveness and viability of the local industry.
More funds are set to be disbursed once the Financing Agreement is signed between the EU and the Government of Guyana in the near future. This will be part of the second Multi-annual Sugar Programme for the period 2011-2013.

Source: ACP