The Ministry of Agriculture says that the state-owned Farmers Support Company (FSC) stands to benefit significantly from a project agreement between the Governments of Venezuela and St Vincent and the Grenadines (SVG) signed on Tuesday.
The agreement is valued US$4.5 million, with funding from the Hugo Chavez Frias Petrocaribe Action Plan for the Eradication of Poverty and Hunger.
Minister of Agriculture, Fisheries, Forestry and Rural Transformation, Saboto Caesar said that the Government of SVG continues to do work as it pertains to having projects and programmes to assist in the reduction of poverty and the eradication of hunger.
“I am very happy that today we are going to sign this project for expanding the Farmers Support Company’s capacity to finance strategic investments in agriculture in St Vincent and the Grenadines.
“I know that this is going to benefit our farmers significantly and benefit our cooperatives, because we have done great work as a nation in addressing the issue of food security and it correlates with the positive impact that we have seen in our ability, as a very small nation, to reduce hunger and under nourishment,” Caesar said.
Component Coordinator for the Venezuela Food and Agriculture Organization (FAO), Circo Marcan, commended both governments for undertaking the initiative.
“This is a very fine example of the South-South cooperation. I think that the Farmers Support Company will open the avenues for a new style of cooperation in the country and for sure, this revolving fund will help the food security in St Vincent and the Grenadines and beyond,” Marcan said.