St Vincent and the Grenadines budget 2022 will continue last year’s heavy investments in building the capacity of fisherfolk to capitalise on the exponential growth in the Blue Economy.
As part of the Government’s post-disaster production support, every lobster fisher is receiving free materials to construct up to 1,000 additional lobster pots, while the PRYME programme has provided grants for entrepreneurial fishers to enhance their vessels and capacity.
In the coming year, Budget 2022 will invest $1.3 million in a partnership with the Kingstown Cooperative Credit Union (KCCU) that will allow fishers to access affordable loans to purchase fishing boats.
The Government will provide an interest-free partial guarantee, making the KCCU loans much more accessible to fishers. Further, a portion of the $1.5 million injection into the Farmers’ Support Revolving Fund will be reserved for support to fisherfolk.
$3 million has been allocated for the repair of fisheries centres in Calliaqua, Chateaubelair, Owia, Canouan, Union Island and Bequia. Work on the Calliaqua Fisheries Centre has already begun.
The government anticipates the Barrouallie Blackfish Facility will begin in the second half of 2022, the budget of 2022 allocates $1.5 million for the fisherfolk on the leeward coast.
