The Disbursement of EU Grant Resources

06/03/2013

The Government of the Republic Trinidad and Tobago on March 5, 2013 officially received a disbursement of approximately TT$80.4m (€9.8m) in the form of grant funding through the European Development Assistance Programme. The funding provided through Sector Budget Support, will be deposited into the country’s Consolidated Fund under the Central Bank of Trinidad and Tobago. The money forms part of the Accompanying Measures for Sugar Protocol Countries and its use defined by the Cabinet-approved and European Union-accepted National Adaptation Strategy for the Sugar Industry. A total of  €75million have been pledged by the EU for the continued restructuring of the formerly state-owned sugar sector and to support the Government’s efforts to increase domestic food production. It should be noted that the Government determines how these funds are to be utilized in the context of the National Objectives to assist the Government of Trinidad and Tobago to:

  1. minimize the socio-economic and environmental impact; and
  2. promote the diversification of the economy

Senator Dr. the Honourable Bhoendradatt Tewarie, Minister of Planning and Sustainable Development is also the National Authorising Officer of this Programme through the Technical Cooperation Unit of this Ministry.  The Technical Cooperation Unit is headed by Ms. Marion Lewis.