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Friday, 14 September 2012

Budget Support to Anguilla

The EU has allocated EC$38.5 million (11.7 million euros) to Anguilla, in the form of Budget Support, with the aim of helping the country in its efforts to boost economic growth and development. The overall objectives of the grant aid are to restore macro-economic stability, stimulate economic growth, provide social development support and protection, as well as reduce environmental vulnerability.
Claude Bochu, from the European Union Delegation to Barbados and the Eastern Caribbean, has stated accordingly: "Given the challenge faced by Anguilla and other Caribbean countries as a result of the global economic crisis, the EU is pleased to provide this grant funding. It is our hope that the re-organisation of the country's economy will place it in a much solid position for the future".
The Budget Support intervention by the EU supports the implementation of Anguilla's Medium Term Economic Strategy (MTES) which is a response to the severe impact and
emerging development challenges that Anguilla has faced since 2008.
Anguilla's 10th EDF allocation amounts to 11.7 M€. This allocation remains to be programmed.

Source: Anguilla News