The European Union (EU) has disbursed EC$12.5 million to St. Kitts and Nevis, which forms part of an overall EC$220 million allocated to the twin-island federation for the period 2006-2017.
This came about from reforms of the EU’s Common Agricultural Policy, which prompted the establishment of a sugar adjustment scheme.
Specifically, the EU’s intervention is intended to stimulate macro-economic reform to reduce vulnerability, as well as to encourage and facilitate investment. It is also expected to assist in improving competitiveness in the production and export of goods and services, enhance social policies and protect the most vulnerable.
This will mark the completion of the sugar compensation programme for St Kitts and Nevis.