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STABEX

The Stabex instrument serves to compensate ACP countries that experience losses in income earnings from the export of primary commodities. Stabex transfers to Dominica under the 7th and 8th EDF represent the largest single package of aid to Dominica to date both in terms of EC-Dominica Development Assistance and other donor development aid. The objective of the Stabex transfers is the sustainable improvement of the welfare of the population and the reduction of poverty, though continued support to making the banana industry internationally competitive, agricultural diversification, general economic diversification (including the development of the private sector), education and skill training to meet new employment possibilities and social capacities to combat poverty. These interventions primarily target the displaced banana farmers and workers.