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Thursday, 17 February 2011

Dominica, ACP receive EU assistance

National Authorizing Officer Eddie Lambert has confirmed that the European Union has approved a 200 million euro fund to help Dominica and other African Caribbean and Pacific (ACP) countries cope with a new banana agreement. The EU, under the new deal, has cut tariffs on bananas from Latin America making competition much stiffer on the global market. However the EU said it is increasing assistance to its ACP trading partners by providing $200 million euro for the period 2010 to 2014. Dominica does not know as yet how much of the money it will get from the EU, but whatever the island receives will be in the form of budgetary support, according to Lambert. “We have no official information from the delegation in Barbados on the amount that has been allocated to Dominica,” Lambert pointed out. “All the information we have is that an official note from the head of delegation that is was approved by the European Parliament.” Meanwhile a national adaptation strategy has been composed to help Dominica better deal with the changes that will come as a result of the new banana deal.

Source: Dominica News Online