EC to provide US $50 million over next five years

The European Commission (EC) announced on Monday that it would allocate 50.4 million euros (US $49,447,440) to the Republic of Congo for the period 2002-2007 in support of efforts to fight poverty and reinforce democracy. According to the EC statement, the funds are "specifically targeted for the achievement of objectives in several domains: support of institutional development in the context of democratisation and the state of law, and of transportation sector policy. The choice of these sectors of intervention is justified by a concern for maintaining the continuity of past activities and the cumulative experience of the Commission in these types of activities." "With the end of the period of transition on 9 August and the establishment of new institutions, the government has committed itself to increasing the implementation of policies aimed at assuring the development and respect of democratic principles of a state of law, good governance and national reconciliation - indispensable elements needed to achieve a return to peace and to restart the development process of the country," said Poul Nielson, European Commissioner for Development and Humanitarian Aid, in the EC statement.