Stabilisation of Export Earnings (STABEX)
St. Vincent and the Grenadines implemented projects and programmes funded by Stabex allocations for 1993-1997. These allocations, represented compensation for losses in export earnings in relation to the export of bananas to the EU, as a result of fluctuations in price and/or quantity. Several areas were targeted for support with the use of STABEX funds. These included support to banana commercialization, agricultural diversification, economic diversification and social sector and social protection measures. Substantial parts of these allocations have been disbursed as direct budget support in support of the national Public Sector Investment Programme (PSIP).