EU resumes funding to Guyana; says gov’t shown remarkable progress in transparency and accountability
Minister of Finance, Winston Jordan on Tuesday signed an agreement with Director General for International Cooperation and Development of the European Commission, Stefano Manservisi triggering the release of over 24,424,000 Euros to Guyana.
This sum is related to the Action Programme adopted by Guyana in the context of the Accompanying Measures Programme (AMP) for Sugar established by the European Union.
The signature took place in the margins of the Meeting of Ministers of Foreign Affairs of the Community of Latin American and Caribbean States and European Union (CELAC-EU) currently being held in Santo Domingo, Dominican Republic.
According to the Ministry of Foreign Affairs, in releasing these resources the European Commission indicated that the Government of Guyana has made “remarkable progress and commendable efforts in terms of budget transparency and accountability.”
Mr. Manservisi emphasized the European Union is committed to continue assisting Guyana in its transformation.
In the absence of Foreign Minister Carl B. Greenidge, who had accompanied President Granger on a State Visit to the Republic of Chile, Minister Jordan headed Guyana’s delegation to the CELAC-EU Meeting. The other members of the delegation were David Hales, Ambassador of Guyana to Belgium and the EU and Vonetta Victor of the Ministry of Foreign Affairs.
The EU had suspended disbursements to Guyana following the Prorogation of Parliament by former President Donald Ramotar in 2014. The former President issued a proclamation to prorogue Parliament on November 10, 2014, after the then one-seat majority Opposition floated the move of a no-confidence motion against his administration. An election was subsequently held in 2015.
Following the finding by the WTO Dispute Settlement Body in 2004 that the EU Sugar Regime was inconsistent with WTO rules, the EU had established a 1.2 billion Euros fund to assist the ACP sugar exporting countries to reform their sugar sector in order to improve their competitiveness or to diversify out of sugar.
During the course of the CELAC-EU meeting, Foreign Ministers of CARIFORUM were also expected to hold discussions with Mrs. Federicia Mogherini, High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission on October 26, 2016.