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Stabroek News

'Support the new banana fund' - Insurance to assist with speedy recovery of sector
published: Thursday | April 19, 2007

Banana farmers in Portland are being encouraged to support the newly-established Banana Rehabilitation Fund to assist with the speedy recovery of the industry after natural disasters.

Vincent Thompson, project manager of the Banana Investment Programme (BIP), while addressing a meeting held at the Boundbrook Wharf in Port Antonio last Wednesday, urged farmers to support the new fund as he informed them about the procedures for the distribution of assistance to be provided under the Hurricane Dennis Rehabilitation Programme, funded by the European Union.

Funding

A total of $122 million has been made available under the programme to provide inputs to help farmers rehabilitate their farms. The farmers will be required to contribute 20 per cent of the cost of inputs received. Some 303 farmers in the parish will benefit from the distribution, which commenced on Monday.

Mr. Thompson noted that the fund was launched with a $30 million donation by the European Union, adding that it was important for farmers to continue to contribute to its development.

He pointed out that with all the generosity the European Union has extended to the banana industry over the years, it would not be able to continue the assistance over the long term, hence the importance of farmers to cooperate and contribute to the fund.

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