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Monday, 07 April 2014

Liberia included in €6.5 Billion EU - West African Trade funding

The European Union Delegation to Liberia has announced the decision of the European Council to provide at least 6.5 billion euros for the Economic Partnership Agreement Development Program (PAPED) for West Africa during the period 2015 - 2020.
The funds will greatly enhance trade and investment flows to 16 West African countries, including Liberia, thereby contributing to their development, sustainable growth and poverty reduction.
The provision of the funds by the European Council is an essential element of the Economic Partnership Agreement (EPA) negotiated with West Africa, and will provide funding for projects linked to trade, industry, transport and energy infrastructure in the region, as well as through support to civil society.
In approving the funds, the European Council noted that "the Economic Partnership Agreement (EPA) is an important step for the partnership between West Africa and the European Union, in coherence with the Joint Africa-EU Strategy, for sustainable economic development that can benefit the West African population including its poorest segments."
The European Council, in addition, welcomed the efforts and progress which West African countries and regional institutions have made to foster regional integration, stating it recalls the fundamental role of regional integration as being instrumental in securing peace, stability and sustainable economic development, as well as its political commitment in support of aid for trade and to mobilise financial flows.

Source: AllAfrica.com

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