Caribbean countries to benefit from EU funds

BRUSSELS, Mar 11, CMC – Caribbean countries are expected to benefit from funds being made available to the African Caribbean and Pacific (ACP) states under the 11th European Development Fund (EDF) that has now come into full force.

The European Commission announced the full entry into force of the EDF, regarded as a cornerstone of the EU's international cooperation and development policy that “concretely implements the long-standing partnership with African, Caribbean and Pacific (ACP) countries under the ACP-EU Cotonou Agreement,” a statement from the Brussels-based ACP Secretariat noted.

It said that the EDF also covers cooperation with the Overseas Countries and Territories (OCTs) as laid down in the Overseas Association Decision.

In a statement earlier this month, the European Commission's High Representative and Vice-President Federica Mogherini and Commissioner for International Cooperation and Development  Neven Mimica said that a total of Euro 30.5 billion (One Euro=US$1.29 cents)11th EDF will finance EU development cooperation projects until 2020 to assist partner countries' own efforts in poverty eradication.

“These funds…will be managed by the European Commission to target the people most in need and to finance different sectors such as health and education, infrastructure, environment, energy, food and nutrition.

“The promotion of good governance, democracy and the rule of law are also other key areas that are supported as is sustainable development, including sustainable agriculture and rural development,” the ACP statement added.

EDF long-term development programmes are agreed in close partnership with each of the countries or regions, to ensure the cooperation is aligned to the respective national or regional priorities of partner countries, who are able to exercise their ownership of the development process, the statement said.