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(Date Posted:18/05/2008 12:20:47)
Mauritius is expected to receive a grant of 4.5 million euros as sugar sector budget support upon successful compliance with a number of key performance indicators pertaining to the sugar industry for financial year 2007/2008, Agro-industry Minister Arvin Boolell told PANA this weekend. Boolell said the money represented unspent balance from previous European Development Funds (EDF). Under the accompanying measures for Sugar Protocol Countries, Mauritius received a first amount of 6.5 million euros in July 2007 as sugar sector budget support. The Minister further said that Mauritius was also expected to receive an amount 36 million euros under Sugar Accompanying Measures as general budget support for the implementation of the overall economic reform program during 2007/2008. ``Under this envelope, 18 million euros will be disbursed as fixed tranche and the remaining 18 million as variable tranche subject to fulfillment to a number of key performance indicators,'' Boolell added. Mauritius will also benefit from additional grant resources following adverse fluctuation in export earnings to the tune of 30.8 million euros and also from the 9th End of Term Review Bonus amounting to 8.7 million euros. ''These resources will be disbursed as general budget support for implementation of our overall reform programme,'' the Minister said. He also explained that under the Sugar Accompanying Measures for the period 2008/2009 and 2010/2011, Mauritius was expected to benefit up to 31million euros in 2008/2009, 30 million in 2009/2010 and 30.541 million in 2010/1011. Port-Louis - 18/05/2008 Pana
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