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Barbados to receive EU aid for human resource, renewable energy initiatives

 

A significant amount of EU grant aid provided to Barbados represents support to countries affected by the reform of the EU sugar regime in 2006.

BRIDGETOWN, Barbados, Friday December 7, 2012 – The European Union is to provide Euro 40 million (One Euro= US$1.29) in new financial grant assistance to Barbados for human resource development and renewable energy initiatives.

A statement from the Delegation of the European Union to Barbados and the Eastern Caribbean said that Barbados’ Human Resource Development programme is to benefit from a further injection of Euro 34 million by the end of 2013, while Euro 5.8 million has been set aside for renewable energy.

It said that once operational, the new funds will bring Barbados’ current active portfolio with the EU to Euro 55 million.

Earlier this week, Barbados and EU officials met here for “ a high level portfolio dialogue” with the EU statement indicating that the purpose of the exercise “was to review the various ongoing and recently concluded programmes financed by the EU in Barbados and provided an avenue to discuss the challenges and opportunities arising from the joint management of the portfolio”.

It said a significant amount of EU grant aid provided to Barbados represents support to countries affected by the reform of the EU sugar regime in 2006 which led to a 36 per cent reduction in the price of sugar.

In the past, the EU has provided support for education, health and business.

The high level meeting was chaired by Finance Minister Christopher Sinckler and new EU Ambassador to Barbados and the Eastern Caribbean Mikael Barfod.



Category/ies:Barbados News.
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