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Friday, 20 March 2015

11th EDF entry into force brings €30.5 billion for ACP

The European Commission has announced the full entry into force of the 11th European Development Fund (EDF). The EDF is a cornerstone of the EU's international cooperation and development policy that concretely implements the long-standing partnership with African, Caribbean and Pacific (ACP) countries under the ACP-EU Cotonou Agreement. The EDF also covers cooperation with the Overseas Countries and Territories (OCTs) as laid down in the Overseas Association Decision.A total of €30.5 billion will finance EU development cooperation projects until 2020 to assist partner countries' own efforts in poverty eradication.These funds from EU Member States will be managed by the European Commission and target people most in need by financing different sectors: health and education, infrastructure, environment, energy, food and nutrition. The promotion of good governance, democracy and the rule of law are also other key areas that are supported as is sustainable development, including sustainable agriculture and rural development.