European Union provides EC$23.5m for social and economic development
BASSETERRE, St Kitts — THE European Union has disbursed (euro) 6.325 million (EC$23.55 million) to St Kitts and Nevis, as part of a (euro) 12.9-million (EC$48-million) grant in support of the country’s economic diversification following the closure of the country’s sugar industry.
The grant will support the implementation of the 2012-2017 Social Protection Strategy which has as its emphasis more efficient and effective targeting of social safety nets, with special attention being placed on the youth.
The EU’s intervention will also include the launch of a juvenile co-educational rehabilitation centre for 30 residents; reform of the Social Development Assistance Act; updating of alternative energy legislation; development of a national qualifications framework; the establishment of a land registry and the installation of infrastructure at three commercial parks.
It is also expected to strengthen St Kitts and Nevis’ Public Finance Management System as well as the fiscal space available to government through budget support.
The grant is part of the EU’s assistance to ACP sugar-producing countries following reform of its Common Agricultural Policy in 2005, which prompted the EU to establish an adjustment scheme under which St Kitts and Nevis was allocated an overall 68 million euros for the period 2006-2017.
CMC
