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Thursday, 30 July 2009

Caribbean, Europe establishing special infrastructure fund

Caribbean nations and the European Commission have agreed to establish a special fund to finance energy, transportation and information technology projects, a senior EC official said. "There was a fair agreement on working on the setting up of a Caribbean-European Union trust fund for development in order to create a tool which is able to foster investment in inter-connection infrastructure in the region," the EC's Director General for Development Stefano Manservisi told, after a one-day consultation in Antigua on regional integration and cooperation. Manservisi said 40 million Euros already have been set aside for the Caribbean's infrastructure trust fund which would be co-managed by the European Investment Bank based on the EU-Africa Trust Fund model.
Source: eubusiness.com