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EU Funds For Caribbean Development

BRIDGETOWN, Barbados, CMC – The European union will provide Euro$346 million (One Euro=US$1.29 cents) on programs focusing on regional economic integration, climate change disaster management and sustainable energy in the Caribbean Community (CARICOM) and the Dominican Republic over the next five years.

Representatives of the European Union and Caribbean Forum (CARIFORUM), which includes the 15-member CARICOM grouping, have successfully concluded technical negotiations on the multi-million Euro regional program that ends in 2020.

A statement issued, following the talks, said that the program will focus on regional economic integration and cooperation; the environment; climate change, disaster management and sustainable energy; as well as crime and security.

“Specifically, the grant aid is expected to strengthen the regional integration and cooperation process; support private sector development, investment facilitation and external trade capacity; along with further implementation of the EU-CARIFORUM Economic Partnership Agreement (EPA).

“Regional resilience to the impact of climate change is to be addressed, as well as mitigating the impact of natural disasters, which can affect social and economic development,” will also be addressed, the statement said.

The EU and CARIFORUM signed the EPA in 2008 and the statement said that the EU’s regional grant aid support is also expected to boost the region’s capacity in the sustainable use of natural resources and to promote energy efficiency, development and the use of renewable energy.

“As it relates to crime and security, the objectives are crime prevention, risk reduction, enhancing restorative justice, ensuring citizen and border security and increasing compliance with international norms on financial crimes.”

The statement said that the two sides met here last week to discuss various aspects of the programming. CARIFORUM’s negotiating team was led by Guyana’s Chief Trade Negotiator, Neville Totaram, and Director General of CARIFORUM, Ambassador Percival Marie, while the EU was led by Roland Schaefer, Director for the Americas at the European External Action Service.

The regional program is intended to be signed in the margins of the EU-CELAC Summit, which will take place on 10-11 June 2015 in Brussels.

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