Jun 2015 Financial News

More sustainable development support for region

Jun 12, 2015

BRUSSELS—The European Commission announced yesterday around €230 million to support the efforts towards the sustainable development of Latin America and the Caribbean.

The new projects will take into account the progress made in several parts of the region in recent years and will address the new challenges that have emerged.

The announcement was made at the EUCelec (Community of Latin America and Caribbean States) Summit held in Brussels June 10 - 11.

High Representative/Vice President Federica Mogherini said: “With this newly adopted EU co-operation package, we want to further strengthen and deepen EU-Latin America relationship.

Throughout these new initiatives, we will work together to enhance sustainable development and promote more inclusive prosperous societies for the next generations in both our continents.”

Neven Mimica, Commissioner for International Co-operation and Development, said: “The European Union seeks to develop a new type of cooperation that takes into account the fact that Latin America and the Caribbean have experienced very positive growth over the last decade and that development challenges are of a different nature today.”

To adapt to this new reality, the EU has set up a Facility for International Co-operation and Partnership. The facility will support the consolidation of peer learning among countries in the Latin American and Caribbean region, and promote joint co-operation with emerging donors in the region.

It counts on a budget of €12 million to support improvement of the design and implementation of public policies with a direct impact on poverty reduction.

Part of the new projects signed address particular countries’ challenges:

• Bolivia - with more than half a billion euro received in the last 20 years, Bolivia is the largest recipient of EU co-operation in Latin America, accompanied by a remarkable record of good results. Three new programmes have been signed: one to fight illegal drugs (€60 million), which will support implementation of the Action Plan against drug trafficking and reduction of coca cultivation in respect for human rights and social dialogue; one to increase access to drinking water and sanitation facilities in suburban areas, while increasing resilience to the negative impacts of climate change (€12 million); and another one to improve water basin management and reduce water shortages, water pollution and the risks of flooding (€17 million). The objective is to give more than 200.000 people access to water and basic sanitation.

• Colombia - a programme worth almost €21 million will aim to overcoming the social and economic disadvantage of the marginalised and conflict affected regions. The programme will support local sustainable development in remote areas. It is expected to foster income generation opportunities for almost 2000 peasant families and improved livelihoods of around 3000 indigenous and Afro-Colombian families living in national parks, where all kinds of social and environmental conflicts rule. This action will constitute the first building block of the EU’s support to the Colombian peace process. Over the last decade, EU’s cooperation has invested over €150 million in peace building in Colombia.

• Honduras -a programme on food security (€30 million) will be signed to improve the living conditions of 15,000 rural households in one of the most vulnerable areas of the country by building sustainable farming systems that will enable increasing food production while supporting education and nutrition. Another programme (worth €11,6 million) promoting decent work conditions and employment opportunities for young people in Honduras will also be signed. A third project (with an EU grant contribution of €10 million) will focus on the rehabilitation, upgrading and road safety improvements of one of the country’s main roads, thus providing the poorest and most deprived regions in Honduras with ameliorated access to social services and increased commercial opportunities.

Source:
Trinidad Guardian, A21
Friday June 12, 2015