The EU has handed out grants to three companies in Jamaica that are diversifying away from banana production as part of the union’s banana diversification programme. The three entities which were involved in banana production and have since diversified their operations, are to benefit from $28.9 million in grants.
Jamaican minister of agriculture, Christopher Tufton and head of the EU Delegation in Jamaica, ambassador Marco Mazzocchi Alemani, signed the agreement for the grants.
Canco Ltd, an agro-processing enterprise will receive $9.2 million to expand its operations; FM Jones Estate will receive $8.56 million for dairy plant expansion and an additional $4.6 million for a turf production project; while WESS Industries will embark on a block-making training operation with the HEART Trust/NTA, and will get $6.6 million.
Tufton welcomed the EU gesture and challenged the grant recipients to use the money to improve the sustainability of their operations. "The efforts of the three companies is worth supporting, because it says to the workers if one thing fails, you will have the option of another and that cannot be a bad thing," he said.
The grants represent 75 per cent of the cost of the operations and the entities are required to provide the remaining 25 per cent.
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