This morning’s signing of the EU Hand-Over Instrument is yet another channel of external development assistance through strengthened bilateral relations between Jamaica and the EU.
The European Union (EU) Accompanying Measures for Sugar Protocol Countries, AMS 2013, was signed on March 25, 2014.
The Fixed Tranche was disbursed in the sum of approximately €7.07 million on October 23, 2014 and First Variable Tranche, which is being officially handed over today, was disbursed in November 2016 in the sum of €6.5 million. The second tranche is expected to be disbursed in March 2018 in the sum of €15 million.
The disbursement of this first variable trance of €6.5 million (approx. J$910.199 million) aims to assist the Government in reducing poverty and improving the living standards of the rural
population in sugar dependent areas affected by the EU sugar reform.
The disbursement further aids the government’s mission to reduce the economic and social disparities of our rural areas by creating sustainable productivity increases to hundreds of
people moving out of poverty.