PITCAIRN GETS $6.5 MILLION FROM UK, EU

MELBOURNE, Australia (Radio Australia, August 9) - The Pitcairn Island economy has received US$6.5 million from the British Government and the European Union to save it from bankruptcy.

The world’s most isolated populated island costs close to US$1 million a year to run, but brings in just half that in revenue and is currently facing bankruptcy.

The British Government has signed off on its part of the grant, more than half the total amount, for upgrading infrastructure, including the main road between the island’s jetty and settlement.

The grant from the European Union secured last month will fund studies on ecotourism and other potential revenue sources for the island.

August 10, 2004

Radio Australia: www.abc.net.au/ra