EU commits another J$1.3 billion to sugar
Published:Sunday | August 29, 2010 | 12:00 AM
A J$4 billion funding package from the European Union (EU) to Jamaica includes J$1.3 billion of support for the sugar industry, which is in the final stages of transitioning from public to private ownership.
The rest of the EU funds will go towards debt reduction and other central-government programmes.
Under the Sugar Adaptation Strategy, "we have so far received from the EU approximately J$2.8 billion, and the Government has spent an overall J$3.41 billion to support the privatisation of the sugar industry," Donovan Stanberry, permanent secretary in the Ministry of Agriculture and Fisheries, said Thursday at the signing of the funding agreement.
"A few weeks ago, we cleared the last hurdle when Complan took over the last three public estates."
The sugar programme, launched in 2006, was originally to wrap up this year, but Cabinet has approved an extension up to 2013. The EU has agreed to provide a total of €82 million of support for sugar under the adaptation strategy.
The agriculture ministry's focus this year, Stanberry said, would turn to displaced sugar workers, 3,600 of whom are targetted for assistance with grants of J$150, 000 and J$170,000; added resources will finance expansion of cane production.
A programme to rehouse sugar workers is already in play.