But before he put on his hardhat, Jarchow went to the Cabinet room in Belmopan to sign an agreement which should make Belize's bananas competitive on the world market. Jarchow and Mark Espat, Minister of National Development signed a financing agreement for $6.15 million. It's part of the EU's competitive strategy for the banana industry to improve the efficiency and productivity of the industry. The money will be used for plant nutrition to require less use of costly fertilizers, and to establish a monitoring programme which will measure the effect fertilizer use has on the environment.
And while the European Union is helping with bananas, regional news reports say that sugar producers across the Caribbean will be asking the EU for more aid. As has been reported, the EU will reduce its sugar subsidy for ACP countries by 36% over the next five years. Now, the 18 sugar producing countries in the ACP will ask the EU for aid of US$500 million a year to make up for the subsidy losses. The Europeans are currently offering the ACP around $116 million.
