By the Caribbean Journal staff
Montserrat will be receiving $26.04 million USD in budget aid from the United Kingdom’s Department For International Development.
The government announced the funding following what it called “detailed discussions and negotiations” with Montserrat on a settlement.
The aid will enable “continued provision of essential services, including assistance across health, education services and improving sea access and safety at the airport for the 2013/14 financial year,” Montserrat’s government said in a statement.
The increased funding comes after Montserrat submitted “significant budget pressures” arising from a series of factors, including capital replacement costs, rising pension costs and “ongoing financial liabilities.”
Among the budget increases include a $555,555 USD in funding for improvements to air and sea access.
DFID said its “continued commitment to Montserrat is reflected in the budgetary increase.”
:This budget settlement provides GoM with a strong financial footing for the 2013/14 fiscal year,” the DFID said. “It clears outstanding liabilities, invests in the public sector and strengthens governance.”