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Saint Lucia and the European Commission sign the 10th EDF Country Strategy Paper

Contact: Office of the Prime Minister

Tuesday, December 02, 2008 –  The Government of Saint Lucia and the European Commission

will be signing  the Country Strategy Paper which provides a framework for EU assistance programmes in Saint Lucia under the 10^th European Development Fund for the period 2008 to 2013 on Wednesday December 3^rd 2008. 

The signing ceremony takes place at the Ministry of Economic Affairs, Economic Planning and National Development in the American Drywall Building, Vide Boutielle, Castries.

This signing clears the way for Saint Lucia to receive EUR 8.1 million as part of an indicative programme of EC aid. Another EUR 2 million has been set aside to be utilised in the case of emergencies.

The Government of Saint Lucia and the European Commission propose to allocate 85% of the indicative EUR 8.1 million to private sector development to assist the Government with the implementation of policies and strategies aimed at achieving private sector-led growth. Particular emphasis will be placed on the export-readiness of the private sector, the adequacy of human resources and the facilitation of an enabling environment mainly through regional integration and trade facilitation. Expected results include the establishment of a National Training Council, the adoption of ISO certification by 2011, increase in the exports of goods and services, and review business legislation.

Sector budget support is the preferred delivery mechanism to expedite the disbursement of European Commission assistance to Saint Lucia under the 10^th EDF, as it will permit more effective allocation of funds.

EC aid provided to Saint Lucia since 1975 is estimated at EUR 150 million. The biggest share, which is almost three times the amounts given under the EDF, has come through specific mechanisms to expedite the ongoing restructuring of the banana sector and support economic diversification.

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