The funding is coming as part of the 10th European Development Fund General Budget Support Programme. It is the third tranche of a wider total of $17.65 million USD in funding allocated to the territory by the European Union.
In a statement, the government said the funding would support the “continued modernization of the public finance management systems” and the implementation of the island’s 2008-2020 Sustainable Development Plan and Sustainability Road Map.
The objectives of the plan are “prudent Economic Management, Human Development, Environmental Management, Disaster
Mitigation, as well as Governance,” the government said. “The main thrust is to put in place an enabling environment,legislation, policies and institutional arrangements that can provide the framework for the development of a diversified economy, the facilitation of sustained growth and the generation of employment opportunities,” said Mikael Barford, Head of the European Union’s delegation to Barbados and the Eastern mCaribbean. ¤
Courtesy: Caribbean Journal