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EU pledges over €70 million to Latin America and the Caribbean

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Thursday, 03 November 2016

EU pledges over €70 million to Latin America and the Caribbean

The European Union (EU), this week, pledged over €70 million in funding to the Latin American and Caribbean regions to support sustainable development. The EU made the pledge during the its two-day ministerial meeting with the Community of Latin America and Caribbean States (CELAC) held in Santo Domingo from October 25-26. At the meeting the EU said that it would be rolling out sustainable development programs totaling some €74 million. The EU said that its aim is to improve the living conditions of people within the CELAC states by 2030, in accordance with the “Transforming Our World: the 2030 agenda for Sustainable Development”, agreed to by the United Nations in 2015. For the Caribbean, the EU allotted €44.2 million, of which €9.2 million will be dedicated for the technical assistance programme for sustainable energy in region (TAPSEC). “The programme intends to support the region in its effort of achieving a transition towards sustainable energy and a low-carbon economic growth path,” the EU said. The assistance will be focused in three main areas: adopting and implementing regulatory frameworks that enable investments in new renewable energy and energy efficiency technologies; improving the availability of energy information and statistics; and establishing financing mechanisms for the development of renewable energy and energy efficiency projects.

Source: reporter.bz