The European Union (EU), as part of its Budget Support Programme, has approved the disbursement of €7.56 million for Guyana.

The grant funds represent the final tranche of payments under a multi-year programme valued at €30 million, which came on stream after Guyana lost Europe as one of its preferential markets for sugar.

Guyana’s president Dr Irfaan Ali said the funds received under the EU’s Budget Support Programme for Guyana have been previously spent on housing, climate adaptation, improved infrastructure, and repairing the country’s sea defences.

The EU Ambassador to Guyana, Fernando Ponz Cantó outlined that under the programme, Guyana was able to build in excess of 10 kilometres of sea defences, while maintaining almost 60 kilometres. He said the latest contribution to Guyana is proof of the trust and confidence that the EU has in Guyana’s People’s Progressive Party/Civic government.

“It should be noted that last year, under the same budget support programme, Guyana benefitted from disbursement of $19.8 billion. However, due to political instability in 2019, the EU withheld its funds,” Ambassador Cantó reminded.

Guyana’s relentless struggle to defend its coastal zone

He mentioned that the funding will help to offset expenditure that has been incurred in Guyana’s relentless struggle to defend its coastal zone from the intrusion of the aggressive Atlantic Ocean.

In expressing his appreciation, President Ali said that the resources provided by the EU will greatly assist in improving the lives of the people of Guyana.

Javier Niño Pérez, deputy management director for the Americas in the European External Action Service (EEAS), has signalled the EU’s intention to strike up a “genuinely effective political partnership” with Guyana.

“We want to be political friends of Guyana because we both face the challenges of today’s world, believing in the same principles and with the same objectives,” Pérez posited.