New EU development fund in force, Guyana earmarked to receive €34m

Guyana is earmarked to receive €34m in grant funding under the 11th European Development Fund (EDF) which is now in force, according to a release from the EU office here today.
It is unclear when Guyana will actually be able to tap the funds as the European Union (EU) recently withheld €25m related to two programmes until eligibility criteria are met by the government.
Significantly, it listed budget oversight as one of the criteria that will have to be met for disbursement. At that time Parliament had been prorogued and it has now been dissolved to pave the way for general elections. A new budget will also not be presented until after the May 11 general elections.
The programmes affected relate to sugar and sea defences.
The EU release today said that the allocation to Guyana comes to €34 Million until 2020 and will focus on on climate change adaptation, disaster reduction and sustainable infrastructure (including sea defences), building upon successful cooperation in this area in the past.
It added that the EU is the largest grant donor to Guyana. This year will mark the celebration of 40 years of EU-Guyana cooperation, it said.

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