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Wednesday, 08 December 2010

EU needs to specify the volume of development finance

The European Union needs to spell out the sources and the volume of money it is providing for the Economic Partnership Agreement (EPA) development programme, the President of National Association of Nigerian Traders (NANTS, Ken Ukaoha has said. The African heads of states and governments and the parliaments had unanimously directed that the region may not sign any EPA except the EU commits to finance West Africa’s Development programme to take care of the possible impacts of the agreements on their economies. Speaking in Abuja at a stakeholder’s review of EU-ECOWAS EPA negotiations, the NANTS President said that the clarification became necessary with regards to the difference between 9.5 billion Euro presented by ECOWAS and the 6.5 billion Euro accepted by the EU in the financing. He said that while the EU has eventually accepted to help finance West Africa’s EPA development programme, a considerable number of differences needs to be settled.