The Banana Accompanying Measures (BAM) has been developed through a consultative participatory approach involving key public sector agencies and non-state actors. The methodology entailed an analysis of current performance of the agricultural sector, and the design of a National Adaptation Strategy (NAS) based on the government’s priorities for growth and development. The BAM will therefore provide financial support of approximately Euro 9.93 million to the development and modernisation agricultural sector for a period of five (5) years.
The overall objective of the BAM intervention is reduce the levels of poverty in St. Vincent and the Grenadines through increased production, investment, exports and employment in the Agricultural Sector. These achievements will contribute to the overall sustainable economic performance of St. Vincent and the Grenadines. Accordingly, the purpose of this intervention is to support the Government’s efforts to increase incomes in the rural sector.
The interventions under the BAM will focus mainly on increasing banana, livestock, fruit and vegetable production. In so doing, a number of cross-cutting issues will be addressed in support of the thematic areas. It is expected to result in improved agricultural infrastructure; improved access to credit facilities; good environmental management systems and land use practices; development of agribusinesses; improved institutional capacity; and the strengthening of public/private partnership in the value chain.
The operational period of the Financing Agreement is 60 months, beginning March 19, 2013 and ending March 18, 2018. The Ministry of Agriculture, Rural Transformation, Forestry and Fisheries will implement the programme with support from the National Authorising Officer’s Support Unit under the guidance of a Steering Committee.
As at 18th March, 2016, the Ministries of Economic Planning and Agriculture committed €9.8m under the BAM/ADMP and therefore no funds were lost. The third and final programme estimate (PE 3) commenced on 1st March, 2016 and has a duration of 24 months. This PE has a value of over €2 million and will end on 28th February, 2018. It is envisaged that the BAM will be in full implementation by the end of 2016 with farmers, other agri-businesses and related institutions receiving the intended benefits of the programme.