European Union provides Guinea Bissau with 984,000 euros to support agricultural sector

7 May 2007

Bissau, Guinea Bissau, 7 May – The European Union (EU) Friday provided Guinea Bissau with a total of 984,000 euros as part of the “Stabex” program to finance the country’s agricultural sector, namely the production of fruit for export.

The Stabex fund is an EU financial initiative, as part of the system for stabilizing export revenues from ACP countries (Africa, Caribbean and Pacific)

The funds provided by the EU are to finance activities for developing production techniques on an export scale over the next three years, for mangoes, citrus fruits and palms in Guinea Bissau.

According to the Guinean Agricultural and Rural Development Minister, Daniel Suleimane Embaló, the EU financing “arrived at a good time” as the new government plans to diversify the country’s agricultural production.

The government intends to encourage Guinean farmers to produce other products that can be exported as has been the case with cashew nuts, which is currently the only product exported by Guinea Bissau, Embaló noted. (macauhub)