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Monday, 19 April 2010

Request of a single financial instrument for development

The Spanish Foreign Affairs Minister, Miguel Ángel Moratinos, opened the 19th ACP-EU Parliamentary Assembly on Monday in Tenerife, together with the two co-presidents of this body, Louis Michel and Charles Milupi, with 400 representatives from the EU and 78 African, Caribbean and Pacific nations taking part in the event. In his speech, the Spanish minister advocated managing development aid more effectively to avoid nine million people dying of starvation in the 21st century. The members of the working party representing the European Union and Africa-Caribbean-Pacific (ACP) assembly signed a joint statement calling for a feasibility study into a single financial instrument for co-operation, to help overcome the difficulties caused by using ERDF funds for this purpose. The chief demand contained in the document relates to promoting the creation of an area of cooperation called the "Euro-African Atlantic space". In addition, there is a desire to take a further step in support of the development of regional ACP-OMR (outermost regions) insertion in order to promote growth in this area and guarantee security and peace in the whole area.

Source: Spanish Presidency of the European Union