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International Business News

Canadian dollar stays at 8-month low; stocks rise
TORONTO -- Stock markets advanced Wednesday morning in the wake of data showing a strong resurgence in U.S. consumer spending in November. The Canadian dollar was at an eight-month low. U.S. retailers saw sales rise by one per cent last...
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Oil prices fall on rising supply from non-OPEC nations, mild US weather
NEW YORK (AP) - Crude oil prices slid yesterday, as the market gauged OPEC nations' commitment to cutting oil production and the effect of a mild US autumn on fuel supplies. Also deflating prices, Iraq resumed pumping oil out of a pipeline in the...
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French economic growth stagnates
Economic growth in France stagnated in the third quarter of the year, official figures show. Statistics agency Insee reported zero growth between July and September - after a 1.2% expansion in the previous three months. The abrupt slowdown has...
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Corporate Strategies Limited
Business News

USAID funds $1.6m bammy plant in St Ann
Published by www.jamaicobserver.com on Apr 25, 2007
Apr 25, 2007

 
 Karen D Turner, mission director USAID/Jamaica, cutting the ribbon to officially open the Lydford/Moneague Farmers Group bammy processing plant in Claremont, St Ann yesterday. Also photographed are Marcia Davis of the farmers group, and Bill Meadle, chief of party, REACT Project.

Sixteen farmers who are part of the Lydford/Moneague Farmers Group in St Ann have been given a chance to develop a means of sustainable income, thanks to a $1.6-million grant from the United States Agency for International Development (USAID).

Through its REACT (Rural Enterprise, Agricultural and Community Tourism) project, USAID has assisted the farmers to develop a bammy manufacturing plant in Claremont for local and overseas markets.

The money was used to acquire equipment for the plant, including a peeler, mill, extractor, rings for baking bammies, industrial stove and vacuum seal machine for packaging.
Additionally, USAID provided technical support to the group, including identifying markets for the products, which also include packaged roasted and sliced breadfruit, cassava chips and herbs.

"USAID is extremely happy to be associated with this activity, which demonstrates the commitment of the Lydford community to building its economic base, developing the local agricultural sector, and supporting sustainable rural livelihoods," Karen D Turner, mission director, USAID Jamaica, said at a ceremony to officially open the plant yesterday.

The grant represents a boost for cassava farmers in St Ann, with those involved in the project expected to see an increase in net income of up to about 80 per cent.
According to the leader of the two-year old farmers' group, Marcia Davis, the opportunity now exists for more farmers to plant cassava and also for more persons to be employed at the plant.

However, said Davis, the most important thing that the grant brought about was efficiency to their processing efforts.

"It means a lot because it brought us from one level to another," said Davis. "We always do manual processing, now it's mechanical, so we can do a hundred times more than we used to."

Meanwhile, Bill Meadle, chief of party, REACT Project, said yesterday's events demonstrated that the keys to Jamaica's sustainable rural economic development could be found "right in those communities that are seeking opportunities for employment and improved livelihoods".

Projects like REACT, Meadle said, unlock the potential and provide a helping hand to those who are determined to help themselves.

The grant represented the first to be awarded through the REACT Sustainable Rural Enterprise Development Fund.
The Rural Agricultural Development Agency (RADA) also played an important role in the project, training the farmers on how to process the bammies.

Source:

http://www.jamaicaobserver.com/magazines/Business/html...

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