Dominica will have access to EC$50 million (One EC dollar =US$0.37 cents) under the European Union Banana Accompanying Measures (BAM) during the first quarter of next year, a senior government official here has said.
Permanent Secretary in the Ministry of Agriculture, Samuel Carrette, said the funds had been allocated to Dominica over a three-year period.
"Government is embracing collaborative approaches in charting a course for the transformation of the agricultural sector," he said, noting that some people have been advocating for the government "to implement the same prescriptions administrated over the past 40 years and of course they expect change in the sector".
He said the loss of market preferences in Europe and the support mechanism from the European Union "which supported the production and export infrastructure seems to be really of the distant past".
"However we are of the view that free market economics in agriculture requires some new approaches and new business modalities," he added.