Finance Minister Dr Ashni Singh yesterday confirmed that the European Union (EU) has approved €25 million in budgetary support, however no funds have been received as yet.

Singh said “no credible reasons” have so far been given as to why the EU has not made the payment to the government. Instead Singh stated that there have been “spurious” reasons, but there was no indication prior that the EU would be withholding any funds.

At a press conference held at NCN, Singh stated, “We have, in writing, confirmation that we have discharged all of our obligations associated with qualifying for those payments…. We’ve taken the necessary actions we have implemented the necessary conditions…”

He said Guyana has met its obligations, expanding that the EU used independent benchmarks as a grading system. Singh said the envoy in Guyana has written to Brussels recommending that the money be paid and that only the EU could answer as to why no payment has been made.

Singh clarified that qualification rests with a level of achievements for the various indicators, which do not have to be met at a 100% level to receive funding. To date Guyana has received over $31 billion since the implementation of the Guyana National Action Plan in 2006 on Accompanying Measures for Sugar Protocol Countries alone.

The sugar industry has been unable to meet all of the indicators and as a result has not received all of the possible funding available under GNAP. A report at the 51st meeting of the Council for Trade and Economic Development (COTED) revealed that Guyana only received 70 percent of funds earmarked from the accompanying measures.

Head of the EU Delegation to Guyana and Suriname Robert Kopecký has not officially responded to Head of the Presidential Secretariat Dr Roger Luncheon’s statement alluding to a significant cut in budgetary support funds, which would include the millions in sugar support.

Last week the Luncheon lashed out at both the EU and the British High Commission accusing both parties of conspiring to dishonour the longstanding budgetary support agreement between the EU and the Government of Guyana.

UK High Commissioner Andrew Ayre had previously held a press briefing in which he stated that Guyana may need to prepare for possible sanctions. He had stated that English taxpayers would hold their government accountable for providing budgetary support to a country without a functioning parliament.