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Sugar Regime

Answer

DFID's £10.3 million annual bilateral programme to the Caribbean finances programmes in Guyana (£4.5 million a year) and Jamaica (£2.5 million a year), two of the most affected countries in the Caribbean, and support for regional objectives and institutions (£3.3 million a year), that benefits all six affected Caribbean Sugar Protocol countries.Funding from the regional programme is being made available to assist all these countries prepare their sugar action plans to set out how they adjust to the fall in European sugar price. These plans will enable them to benefit from the European Commission's (EC) forthcoming Transitional Assistance and attract possible investors from the private sector.In addition, Jamaica, Guyana and Belize benefit from UK financed debt relief. Under the UK bilateral Commonwealth Debt Initiative, Belize received £1.45 million and Jamaica £6.24 million in 2005. For Guyana, the UK will pay approximately $450,000 as its share (10 per cent.) of Guyana's debt service on loans from the World Bank's International Development Association (IDA) until all of its $260 million of IDA and International Monetary Fund debts are cancelled in 2006 under the recently agreed G8 proposal.The UK provides approximately £8 million a year to the four most affected countries (Belize, Guyana, Jamaica and St Kitts) through its contributions to multilateral agencies such as the EC.

Secondary information

Type

Written question

Reference

440 c2236W; 36492

Session

2005-06

Subjects

Debts Development aid Debts written off Reform Caribbean ACP countries Common sugar regime

Link

View this Written question on www.publications.parliament.uk