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Tuesday, July 7, 2015

EU invests N251.1billion in West Africa

The European Union (EU) will pump about €1.15 billion (N251.1b) into peace, security and regional stability, including support to the Economic Community of West African States (ECOWAS) in its regional mandates, reports NaijaAgroNet.

Other aspects of interest covered by the fund include regional economic integration and trade, the private sector, regional integration and support for infrastructure.

The assistance made possible by the 11th European Development Fund, NaijaAgroNet gathered, was made public during the signing of a new regional funding for cooperation between European Commissioner for International Cooperation and Development, Neven Mimic and  representatives of regional organizations from West Africa.

 Mimica said, “Regional integration in West Africa is already bearing impressive fruits and today’s signing is the ambitious starting point for preparing new, concrete projects that will benefit the region and its countries. Having almost doubled our support from the last programming period, we will work with a wide range of partners to tackle the challenges that remain in West Africa, such as peace and security, economic integration and trade, as well as sustainable development,” NaijaAgroNet learnt.

The West Africa Regional Indicative Programme was co-signed by President Kadré Désiré Ouedraogo of the Economic Community of West African States (ECOWAS) and President Cheikhe Hadjibou Soumaré of the West African Economic and Monetary Union (UEMOA).

Cyriacus Nnaji/ GEE

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