$80.4m grant for Trinidad and Tobago’s food industry
Government has received a disbursement of approximately TT$80.4m in the form of grant funding through the European Development Assistance Programme.
The funding, provided through Sector Budget Support, will be deposited into the Consolidated Fund under the Central Bank and is part of the Accompanying Measures for Sugar Protocol Countries with its use defined by the Cabinet-approved and European Union-accepted National Adaptation Strategy for the Sugar Industry.
A total of €75 million have been pledged by the EU for the continued restructuring of the formerly state-owned sugar sector and to support the government’s efforts to increase domestic food production.
Government determines how these funds are to be utilised in the context of national objectives to minimise the socio-economic and environmental impact and promote diversification of the economy