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Wednesday, 29 January 2014

€140 million released to support development in Guinea

The European Commission has released almost €140 million to finance five development projects for the Republic of Guinea. Following inclusive and peaceful elections held on 28 September 2013, the European Union was able to resume full cooperation with the country and release the funds from the 10th EDF (European Development Fund) (2008 2013).
The funds will be used to support the Government's efforts in promoting good governance, protecting human rights and improving mobility and road infrastructure. 'The European Union is committed to supporting the Guinean Government's efforts in finding its way back to sustainable and fair growth. The success of the projects planned for the benefit of the population is guaranteed by the strengthening of national capabilities and a participatory approach' stated Andris Piebalgs, Member of the European Commission in charge of Development.
Cooperation with Guinea had been suspended following the coup in December 2008 (except for humanitarian and emergency aid, direct assistance to the population and measures to accompany the democratic transition). The balance of the 10th EDF National Indicative Programme (€139.9 million), which had been frozen for several years, was released following the inclusive and peaceful legislative elections held on 28 September 2013. Resuming these projects has meant that it has been possible to put the whole of the 10th EDF allocated to Guinea to use: €174.3 million in programmable aid and €61.5 million in emergency aid.

Source: European Commission

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