EC announces 311-million-euro, five-year aid package

The European Commission has announced a five-year country support strategy (2002-2007) worth 311 million euros (US $303 million) for Ghana, the Commission said in a news release on Wednesday. The strategy aims to support the government's efforts to achieve equitable economic growth, accelerate poverty reduction and sustain democracy. It will mainly support rural development, road transport, macro-economic, governance and environmental activities, the EC said. Some 231 million euros ($225 million) will be disbursed in the form of grant aid in a number of areas while up to 80 million euros ($78 million) has been set aside for unforeseen needs such as emergency situations, budget deficits or loss of export earnings. The strategy provides the framework for future relations with Ghana, covering all aspects of assistance, and reflects the general principles of the Cotonou (Benin) Agreement signed in mid-2000 between the European Union and the African, Caribbean and Pacific countries, the EC said. Details of the Strategy can be obtained at: http://europa.eu.int/comm/development/stratpapers/index