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Gov't to receive multibillion-dollar Budget Support grant from EU

Published: Saturday December 7, 2013 | 9:33 am Comments 0

The Government of Jamaica is to receive a grant for well-needed Budget Support from the European Union come Monday.

An advisory from the Finance Ministry says the grant will be around $7 billion.

Just over a year ago, the EU had suspended the disbursement of grant funding to Jamaica because the country had faltered on the requirements for the International Monetary Fund.

However, since the resumption of the relationship with the Fund in May, Jamaica has met all its quarterly targets with the Government saying the prospect for the current quarter appears positive.

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