In Belize: IICA signs cooperation agreement with the European Union

Belize, June 8, 2012 (IICA). With an eye to modernizing the sugar industry in Belize, the Inter-American Institute for Cooperation on Agriculture (IICA) and the European Union recently signed a €2.5 million cooperation agreement.

The agreement, signed on May 30 by Victor Del Angel, IICA Director of Management and Regional Integration, and EU Ambassador Paola Amadei, will provide funding for a project aimed at strengthening the Sugar Industry Research and Development Institute (SIRDI).

The objective of the project is to promote and support sustainable livelihoods, particularly in the rural communities of the “sugar belt” and, in this way, contribute to the reduction of poverty in Belize.

More specifically, it is intended to increase the capability of SIRDI to address the technological, production and quality requirements of producers, manufacturers, and associations involved in the industry.

Throughout the three years of the project, efforts will focus on enhancing the capacities of SIRDI in the area of research and development related to sugar cane production.

To this end, IICA also signed a Memorandum of Understanding with SIRDI to ensure successful implementation of project activities.

The EU also signed a cooperation agreement with the Caribbean Development Bank (CBD) for the creation of a program to guarantee financing for the replanting of clean seeds in the sugar industry. The program, valued at €6.5 million will managed by the Development Finance Corporation (DFC).

The Caribbean Development Bank (CBD) also signed an agreement valued at €6.5 million with the EU for the implementation of a revolving fund program to be managed by the Development Finance Corporation (DFC), which will ensure financing for the sugar industry clean seed replanting program.

These projects will complement each other and contribute to making the sugar industry more competitive.

For more information, contact: 
jose.miguel.perez@iica.int