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Items filtered by date:January 2017

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Thursday, 20 September 2018

The European Union (EU) has announced that it will provide €35 million in support of agricultural development and the General Auditing Commission (GAC) in Liberia. Speaking in Monrovia today, European Union Ambassador to Liberia, Tiina Intelmann said the EU props both the private and the public sector in Liberia. The EU supports the Government's efforts to boost the economy through agricultural development, because agriculture is the road to progress and development."

Plans for a dramatic increase in the amount of aid that can be channeled through the CDC Group, the government’s controversial private equity arm, have moved closer to fruition after crucial legislation passed through the Commons on Tuesday. The commonwealth development corporation bill, which will allow the government to lift the cap on aid funds spent through the CDC from £1.5bn to £6bn, was approved by MPs despite criticism of the organisation. The bill allows for increases of up to £12bn without new primary legislation. The vote followed a parliamentary debate that exposed the stark political divisions about the future direction of aid spending. Development minister Rory Stewart said Britain had a “moral obligation” to invest in the CDC, which he described as a proven development model. “CDC investment combines the rigour of the private sector, the focus on markets, the values of the public sector [that] reflect the values of the British public, reflect the British public that cares about poverty,” said Stewart.

Friday, 13 January 2017

Luxembourg will increase its aid to Cabo Verde (Cape Verde) from 49 million euros to 52 million euros over the next five years, in addition to 10 million euros for the Budget Support Group, according to radio and TV company Radiotelevisão Caboverdiana (RTC). RTC said that those figures were announced Tuesday by the Luxembourg business attache in Cabo Verde, Angèle da Cruz, during a courtesy visit to the Minister of Finance of Cabo Verde, Olavo Correia. Angèle da Cruz also announced that the Grand Duchy will unlock the second installment of budget support for 2016, amounting to 1 million euros.

Secretary general of the African Caribbean and Pacific (ACP) Group of countries, Dr Patrick I Gomes, is urging member states to move towards ratifying the World Trade Organization (WTO) 2013 Trade Facilitation Agreement. The Guyanese-born diplomat said that there must be “more concerted actions by ACP member states” to ratify the accord for which the ACP Group, as a critical global force, had exerted its influence in the G90 (Group of Developing Countries) to secure a treaty that reduces cross-border customs regulations and transaction costs.

Tanzania and Burundi risk losing development aid from the European Union for refusing to append their signatures to the trade agreement between the region and the European economic bloc. Dar es Salaam and Bujumbura have declined to sign the Economic Partnership Agreement of the EAC with the EU. Being a single Customs territory, all EAC members need to sign the pact before it is enforced. However, Tanzania argues that signing the trade deal in its current form will have negative implications for its industrialisation strategy. Speaking during the 32nd Conference of African Caribbean and Pacific Group of States (ACP) and the European Union (EU) in Nairobi, Patrick Gomes, the secretary-general of ACP, said that aid to the countries must be tied to trade agreements for the mutual benefit of both economic blocs.