Mon | Jun 1, 2020

Ja, EU to sign nearly $3 billion financing agreement tomorrow

Published:Sunday | April 14, 2019 | 12:00 AM
Foreign Affairs Minister Kamina Johnson Smith

The government is to sign tomorrow two financing agreements with the European Union (EU) totalling nearly $3 billion, specifically to fund the Public Financial Management Reform Programme and improve forestry management in Jamaica.

The EU is providing $2.3 billion to finance the improvement of forestry management and $509.1 million to fund the Public Financial Management Reform Programme.

Foreign Affairs and Foreign Trade Minister Kamina Johnson Smith is to sign the agreements on behalf of the government, while the EU's chief negotiator on the new ACP-EU Partnership and commissioner in charge of International Cooperation and Development in the European Commission, Neven Mimica, will be present to sign and hand over the first disbursements of $279 million and $132.5 million for forestry management and public financial management reform, respectively.

This will take place at the Pegasus Hotel in New Kingston.

Following the signing and hand over of the first disbursements, the foreign affairs minister will move to officially begin the CARIFORUM-EU Regional Consultation on Post Cotonou Negotiations.

The high-level discussion will take place under the theme: Priorities for a Future CARIFORUM-EU Regional Partnership.

CARICOM Secretary General Irwin  Laroque and Mimica, representing the European Union, will also be present at the high-level meeting.

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