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Wednesday, 14 July 2010

EU Votes 6.5 Billion Euros for Ecowas Nations

The European Union has offered to make available 6.5 billion Euros for financing programme initiatives in West African countries under the Economic Partnership Agreement Development Programme over a four-year period (2010-2014). This came just as the Economic Community of West African States (ECOWAS), yesterday said the economy of the countries in the region has witnessed some measure of growth. The sub-regional organisation underscored the need to mobilise additional resources and to meet the region's priorities and make them available for all West African countries. The Authority of ECOWAS acknowledged the EU gesture in a communique issued at the end of its thirty-eighth Ordinary Session of the Authority of Heads of State and Government of the ECOWAS held last Friday in Sal, Republic of Cape Verde, under the chairmanship of President Goodluck Jonathan, who is also Chairman of the group.  It also stressed the need for early conclusion of an agreement with the EU within the context of a larger dimension of economic development."This will allow the West Africa region to find the uniqueness of its trade regime vis-à-vis Europe. It stated that this conclusion is essential to a compromise on market access, adequate financing for the EPA Development Programme (EPADP) and resolution of persistent points of divergence.

Source: This Day

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