EU invests €74m to support sustainable development in LAC region

26 Oct 16

The European Union is to plough more than €74m in sustainable development in Latin America and the Caribbean.

It announced the investments during this week’s joint meeting with the Community of Latin American and Caribbean States in the Dominican Republic.

Caribbean counties will share €44.2m, of which €9.2m has been allocated for the technical assistance programme for sustainable energy in region, which supports transition towards sustainable energy and low-carbon economic growth.

There will also be support for developing regulatory frameworks for new renewable energy and energy efficiency technologies and establish financing mechanisms for these projects.

Two allocations were signed for the Dominican Republic totalling €25m to support more efficient public administration and improve the competitiveness of small and medium enterprises.

There was also €10m to help Dominica in rehabilitation work following tropical storm Erika in August 2015.

The Latin America programmes total €30m and include the new €10m continent-wide security programme El Pacto, which covers police, justice and the penitentiary system. There were also resources for agriculture and private sector development.

More than €31m was allocated by the EU at the meeting under existing programmes.

There will be €24.4m for the Guyana Sugar Accompanying Measures programme, which seeks to help the country modernise its sugar industry, and €4m to assist Barbados in diversifying away from reliance on sugar.

Paraguay is to receive €3.4m for work on social inclusion and poverty and inequality reduction.

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