EUROPEAN UNION PROVIDES €40M IN GRANTS TO SUPPORT THE PROMOTION OF TRADE, INVESTMENT AND INDUSTRIAL DEVELOPMENT IN WEST AFRICA The ECOWAS Commission in Abuja, WAEMU and the European Union, together with implementing partners, on 26 November 2014, launched two major programmes which represent an integrated initiative, aimed at promoting intra- and inter-regional trade, improving the business climate and strengthening the productive capacity of West Africa. The objectives of the programmes are to foster economic growth and reduce poverty in the region. This is contained in a joint press statement issued on 26 November in Abuja, Nigeria. The Support to Regional Economic Integration and Trade Programmes is composed of four components. The first two aims at promoting trade integration in West Africa and are being implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) with an EU grant of EUR 10 million, and additional contributions from the German Government (BMZ) and the ECOWAS Commission of EUR 1million and EUR 0.5 million respectively. The third component focuses on Improving and facilitating trade in West Africa and it is being implemented by the World Bank Group (WBG) through an EU grant of EUR 3.5 million. The fourth component aims at deepening the existing customs union of WAEMU Member States and will be directly implemented by the WAEMU Commission with an EU grant of EUR 5 million. The West Africa Competitiveness Support Programme on the other hand has two main components. The first component has the objective to improve the investment and business climate in West Africa and it is being implemented by the WBG with a total EU grant of EUR 7.7 million. The second component aims at supporting the ECOWAS and WAEMU Commissions to implement the regional quality policy which will boost intra-regional and international trade. The project is being implemented by UNIDO with an EU grant of EUR 12 million. In the group photo from the front left: USAID Trade Hub Rep, ECOWAS Commissioner for Private Sector and Industry Mr. Traore, EU Nigeria Head of Cooperation, Brian ONeill, ECOWAS Commissioner for Macroeconomics Mr. Ba, UNIDO Rep to Nigeria and ECOWAS Dr. Kormawa, ECOWAS President, WAEMU President, World Bank Country Director in Nigeria Marie Francoise Marie-Nelly, ECOWAS VP Mr. Macintosh, GIZ Director for Africa Mr. Andreas Proksch. Last in the front right, Dr. Akanya, Former Director General of Standard Organization of Nigeria. On the High table are Brian ONeill, EU Nigeria Head of Cooperation, ECOWAS and WEAMU Presidents
Posted on: Fri, 28 Nov 2014 14:05:17 +0000
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