14.8 Million Euros to boost sea defences
Minister of Finance Dr Ashni Singh and the European Union Ambassador Robert Kopecky signed the agreement that will see the European Union disbursing the equivalent of over $4 billion Guyana dollars over the next five years. The European Union has been supporting sea defence programmes in this country for the past 20 years.
The EU funding will be disbursed over the next three years, but this will depend on key benchmarks being met.
The specific locations for which the funds would be used to fix the sea defences would be finalized in the national budget, but Minister of Public Works Robesonn Benn spoke of some areas under consideration.
The Minister of Finance Dr Ashni Singh said that EU support for the sea defence sector has not only been used to traditional sea defence structures.
EU funding to the sea defence sector since 1994 now adds up to over 18 billion Guyana dolalrs.