Saint Vincent and the Grenadines is an upper/middle-income country with a small open economy. It is the poorest country in the Eastern Caribbean and suffers from high unemployment, especially among women and young people. Its major economic pillars are tourism and agriculture, primarily banana production.
Under the 11th European Development Fund (EDF), Saint Vincent and Grenadines is allocated €7 million to support the restructuring and rehabilitation of the rural roads in the country.
Under the 10th EDF, the country was allocated €7.8 million to assist with the modernisation of the national health care sector.
As a member of the Caribbean Community (CARICOM) and the Forum of the Caribbean Group of African, Caribbean and Pacific ACP States (CARIFORUM), Saint Vincent and Grenadines benefits from regional programmes funded under the Caribbean Regional Indicative Programmes.
Saint Vincent and Grenadines is also a signatory of the CARIFORUM-EU Economic Partnership Agreement (EPA), a comprehensive free trade agreement with a strong focus on development cooperation.