Prime Minister Bruce Golding and Head of the Delegation of the European Union (EU), Ambassador Dr. Marco Mazzochi-Alemanni, will participate in the handing over of $3 billion from the EU towards the fiscal budget.
The ceremony will be held on Tuesday, January 25 at Jamaica House. The EU budget supports increases in the level of discretionary expenditure available to the Government for strategic priorities. This is of particular importance for the Stand-by Arrangement with the International Monetary Fund.
The funds will represent four tranches from two programmes: the Debt Reduction and Growth Enhancement Programme and the Security Sector Reform Programme.
The EU is Jamaica’s largest provider of grant funds and the according to Ambassador Dr. Marco Mazzochi-Alemanni, Jamaica was the largest recipient of EU development assistance in the Americas in 2009.