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Friday, 31 October 2014

EU lifts decade-long economic sanctions on Zimbabwe

The European Union (EU) has lifted its decade-long economic sanctions on Zimbabwe in a move that will see the trading bloc extending 234 million Euros (about 300 million dollars) to support programmess in the country. President Robert Mugabe and his wife Grace, however, still remain on the EU restrictive measures which are due for review next February, Xinhua quoted EU ambassador to Zimbabwe Philipe Van Damme as saying in a press conference. He said the lifting of the appropriate measures under Article 96 of the Cotonou Agreement which governs relations between the two sides will pave way for Zimbabwe to benefit from the 11th European Development Fund for the period 2015 to 2020. The lifting of the measures which were imposed in 2002 following political differences with Harare is with effect from Nov 1, 2014.

Source: economictimes.indiatimes.com