3 Sep 2010

EU providing global economic crisis aid to worst hit of ACP nations

1:10 pm on 3 September 2010

The European Union has begun disbursing over 338 million US dollars in aid to help 19 of the most vulnerable African, Caribbean and Pacific countries cope with the global economic crisis.

The funding is the second part of a 641 million million US dollar programme launched last year to help countries most affected by the crisis due to their poor resilience to external shocks.

Allocations will be made later this year for the other 17 countries - including Samoa, Tonga and Tuvalu.

The European Development Commissioner says the aid will help the countries maintain their level of public spending in priority areas.