ST GEORGE’S, Grenada (CMC) — Grenada is to commence a new EC$32-million (One EC dollar =US$0.37 cents) six-year programme aimed at reducing rural poverty and youth unemployment.

The programme will also focus on increasing agricultural production and providing information about climate change variability and sustainable livelihoods for farmers and vulnerable groups in rural communities.

This follows the recent signing of an Aide Memoire for the Implementation Support Mission of the ongoing Market Access and Rural Enterprise Development Programme (MAREP) and final design for the new Climate-Smart Agriculture and Rural Enterprise Programme (SAEP) with the International Fund for Agriculture Development (IFAD) at the Ministry of Finance.

The members of the mission were in Grenada for two weeks and reviewed MAREP’s implementation progress and areas of focus during the last eight months of implementation.

“For SAEP, it reviewed the draft Programme Design Report (PDR) with counterparts, private sector representatives and beneficiaries; collected and analysed data to conclude the PDR; and discussed implementation arrangements with the key partners,” said a news release from the Ministry of Finance.

The key partners will be the Ministry of Finance, Ministry of Agriculture, Ministry of Carriacou and Petite Martinique Affairs and Grenada Investment Development Corporation.

SAEP will be a six-year project expected to commence operation in April 2018. The Caribbean Development Bank will contribute 25 per cent of total costs — this includes US$3 million for rural roads and drainage while the Government will contribute 17 per cent, which is approximately US$2 million, mainly in taxes, salaries and operating costs.

The mission stated that MAREP “remains of a high standard and in the last eight months of implementation before closure on March 31, 2018 — the utilisation of loan funds and fully justifying initial deposit” is vital.