Premier Dr. the Hon. D. Orlando Smith announced in an update after the conclusion of the EU and OCTA meeting that was held in the Territory last week that in the near future, the BVI, and the other OCT’s (the Overseas Countries and Territories of the European Union) will receive increased funding.
The Premier in a post on 3 March announced that the anticipated funding will be aimed at helping the Overseas Countries and Territories of the European Union create greener economies.
Hon Smith said: “I am very pleased to have played a role in securing funding for sustainable energy and climate projects amounting to up to 16 million Euros during last week’s discussions.”
As it relates to the disbursement and earmarking of the secured funding, Hon. Smith said: “The technocrats will now work out the details, but sustainable energy and green projects are particularly key for small island-states such as the BVI which stand to lose the most from continuing global warming,” Hon. Smith announced.
The OCTA Ministerial Conference was held under the theme “Unlocking the value of the OCTs: Sustainable development through green innovation, competitiveness and green growth”.