BARBADOS IS IN LINE for two European Union aid packages totalling $63 million.
Word of this came Thursday night from Minister of Finance Chris Sinckler at the opening of the EU Delegation’s new office in Hastings, Christ Church.
Some 8.33 million euros (BDS$22.6 million) will be coming via the 10th European Development Fund, with another 14.77 million euros (BDS$40.6 million) resulting from measures accompanying the Sugar Protocol.
Use of funds Sinckler said some of the funds would go towards “further building of the country’s human resource capacity; rationalisation of knowledge management systems and information access; as well as enhanced research, innovation and entrepreneurship capacity”.
Head of the EU delegation to Barbados and the Eastern Caribbean, Valeriano Diaz, told the meeting attended by several diplomats and a number of Cabinet ministers that sugar was going through a transitional phase as a result of World Trade Organisation rulings.
Received aid
“In order to support the adjustment process, both Barbados and St Kitts and Nevis have already been allocated substantial EU funding,” he said.
“New allocations are expected in the near future. This assistance is being used to increase competitiveness of the sugar sector in Barbados and to develop alternative economic activities.”
According to Diaz, Barbados has earmarked its funds to support information and communication technology, international business and human resource development. (TY)
