Finance Ministry, EU teams meet

-sugar industry reform among matters discussed

Ambassador of the European Union Robert Kopecký and his team met yesterday with Minister of Finance Winston Jordan and Jaipaul Sharma, Minister within the Ministry of Finance and their team at the Ministry, a release from the EU said last evening.

A number of areas of development cooperation between the EU and Guyana were discussed, the release said.

The release said that Kopecký congratulated Jordan on his appointment and welcomed the reforms he has announced in the areas of financial transparency and accountability.

The release said that Jordan noted the EU’s role as a longstanding and reliable partner and both parties welcomed the cooperation over the last 40 years and confirmed their commitment to continue this in the years ahead.

Areas of collaboration discussed included cooperation on sugar industry reform, climate change adaptation and sea defences, cultural heritage, public finance management and regional programmes, including investment facilities.

“Both sides agreed to work together to support the ministry’s efforts to increase transparency and accountability”, the release said.

In January, the EU announced that the absence of budget oversight was among the reasons for it withholding $5.8 billion (€25 million) in funds due to Guyana for sea defence and the sugar sector.

“The latest partial payments related to these two programmes have been temporarily put on hold until all eligibility criteria, inter alia budget oversight, are satisfactorily addressed,” the EU Delegation in Guyana said in a statement. One of the functions of the National Assembly is oversight of the budget. The Assembly was prorogued by former President Donald Ramotar on November 10, 2014.