The European Union (EU) this afternoon announced the release of an additional €7.5 million in budgetary support to Guyana
EU Ambassador to Guyana, Fernando Ponz Cantó explained that the budget support is proof of trust and of a true partnership between Guyana and the EU as the funds are channeled through the national treasury and implemented by the government under agreed indicators.
“The release of this budget support is, first of all, I think a proof of trust. So what we are saying is that we have a true partnership and we trust Guyana to manage this money and it will go directly to the treasury of Guyana and it also means that you have provided the proof of good management of finances and proof of realization of the works that we are paying for,” the EU Ambassador said during a joint press conference with the President.
Today’s release of the funds brought an end to the EU’s support for the Integrated Coastal management programme.
The overall amount of the EU budget support for the Integrated Coastal Management (2017-2021) was $74. 5 Billion and Guyana has built almost 10 kilometers of Sea defense with the funding. There has also been the rehabilitation and maintenance of sea defenses across the country
“Guyana the beautiful land of many waters, sometimes has too many waters and we know how important it is for you to be protected also in the context of Climate change, it is a contribution from the European Union so that the country can adapt itself better to the changing patterns of weather and climate change, but it is also a contribution to improve the infrastructure of the country,” the EU Ambassador noted.
President Irfaan Ali said the support given to Guyana by the EU represents the stable relations the EU has had with Guyana over several decades.
“Of course, it speaks also to the government’s strong commitment to ensuring that we work within the framework as approved by the European Union and to ensuring that our systems are responsive and that our systems are strong enough,” the President noted.
According to President Ali, while the final tranche of financing is being released by the EU, discussions are ongoing for the funding of a new programme. He explained that relations between Guyana and EU remain intact.
The President said the visit by the Deputy Managing Director of the EU for the Americas, Mr. Javier Perez, is a testament that relations between Guyana and EU have moved to another level.
“The intention of this visit is to define the strategic way forward and the emerging challenges and opportunities and for us to come up with a common framework and with a plan as to how together the EU and Guyana will navigate the future,” President Ali said.
He noted that the Government stands ready to continue working along with the EU in several areas of cooperation.