The Foreign Affairs Council has confirmed new EU support of at least €6.5 billion for the economic partnership agreement development programme (Paped) for West Africa during the period 2015-2020, reports European Union External Action in Brussels.
The funds will greatly enhance trade and investment flows to West African countries, thus contributing to their development, sustainable growth and poverty reduction. Paped is an essential element of the economic partnership agreement (EPA) negotiated with West Africa, and will provide funding for projects linked to trade, industry, transport and energy infrastructure in the region, as well as through support to civil society.
The EU had already pledged €6.5bn to support the Paped for the period 2010-2014. This pledge was eventually increased and the EU has funded projects worth €8.2bn (through the European instruments, member states' bilateral cooperation and the European Investment Bank).
The region of West Africa1 incorporates: Benin, Burkina Faso, Cap Verde, Côte d'Ivoire, Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, Togo and Mauritania.
The EU confirms new support for trade in West Africa
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