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Wednesday, 24 May 2006

Wallis and Futuna missed out on most of EU’s 8th EDF

The French Pacific territory of Wallis and Futuna has acknowledged that it has missed out on most of the European Union’s eighth Development Fund (EDF), an estimated loss of some 800,000 US dollars, local television reported.
Under the eighth EDF, Wallis and Futuna was supposed to receive the equivalent of some 800,000 US dollars from the EU to fund various projects in the fields of agriculture and infrastructure. Instead, according to the current advancement of EU-funded projects, the 8th EDF will only have yielded the equivalent of 80,000. New Caledonia-based EU delegates and Brussels-based Pacific specialists were on Wallis and Futuna early March this year to inspect the state of advancement of current projects, including a substantial project to cultivate taro roots on Futuna island and the sealing of Futuna’s only circular road.
Wallis and Futuna is part of the Overseas countries & territories (OCT's).