T&T can access EU’s € 800 million fund | Local company

PLANNING and Development Minister Camille Robinson-Regis said yesterday that a new cooperation framework implemented by the European Union (EU) still considers T&T eligible to bid for access to funding from the regional resource pot worth 800 million euros ($ 6.54 billion).

This was revealed during a meeting between Robinson-Regis and EU Ambassador to T&T Peter Cavendish on Tuesday.

In a statement, the ministry said the two sides agreed to continue working together to explore the financing and technical assistance of the Investment Facility for Latin America and the Caribbean (LACIF) to develop projects aimed at to strengthen the green economy of T&T, the digital economy, water resources, the revitalization of the cocoa industry and innovation.

The new framework for cooperation between the EU and its partners is called “2021 to 2027: instrument of neighborhood, development and international cooperation”.

It aims to help the countries of Latin America and the Caribbean to finance projects in key sectors essential to the achievement of the Sustainable Development Goals, such as sustainable energy, environment, water, transport, inclusive social services and support for small and medium-sized enterprises. .

Robinson-Regis noted that T&T has started working with the EU through LACIF and the ministry’s Multilateral Environmental Agreements Unit in areas related to the environment and sustainable energy.

She cited green hydrogen as one of the key areas of active exploration by the government as part of the global transition to sustainable energy and net zero emission economies. Therefore, the work started with the EU in this regard will help achieve Trinidad and Tobago’s energy transition goals. .

The ministry also said that it and the EU, through its Global Climate Change Alliance Plus program, have also initiated projects with the United Nations Development Program.

“In addition to installing a commercial scale solar panel system, via a solar park, at Piarco International Airport with an annual production capacity of 1,443,830 kilowatt-hours (kWh). The Trinidad and Tobago Airport Authority is also a key partner in this project funded by a 4 million euro grant, ”the statement said.

The ministry, the EU delegation, the Inter-American Development Bank (IDB) and the Caribbean Industrial Research Institute (CARIRI) also collaborated to launch a program called “Shaping the Future of Innovation”. This initiative is funded under the 11th European Development Fund (EDF), amounting to US $ 10 million, with the aim of building a more innovative and competitive economy in Trinidad and Tobago, through economic diversification. .

A call for applications from the private sector is currently underway.