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European Fund okays $16b for Nigeria, others

The European Development Fund (EDF), the main instrument for EU aid for development cooperation with the African, Caribbean, and Pacific countries (ACP), has so far supported Nigeria and other countries with £4,732,573,734 about $6,622,148,448.77. Project budget is £4,789,417,222. It started December 13 , 2010. It will end on December 31 Dec 2027.

EDF provides support to African, Caribbean and Pacific (ACP) countries and Overseas Countries and Territories (OCTs) to eradicate poverty, support sustainable development and integrate ACP countries into the world economy. The funding is implemented by European Investment Bank, European Commission and Directorate-General for International Cooperation and Development.

Information from the United Kingdom (UK) – Foreign, Commonwealth and Development Office (FCDO) indicated that the project was approved before the referendum on the UK’s membership of the EU. Under the terms of the Withdrawal Agreement with the EU, the UK will honour its commitment to the current and previous European Development Funds.

In 2015, the EU, signed a regional funding for cooperation with representatives of regional organisations from West Africa, covering the time until 2020. The Regional Indicative Programme under the 11th European Development Fund amounted to a total of €1.15 billion. The West Africa Regional Indicative Programme was co-signed by the Economic Community of West African States (ECOWAS) and the West African Economic and Monetary Union (UEMOA).16 Countries benefited from the EU-West Africa Regional Indicative programme.

These included Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra Leone and Togo. Under the 10th EDF Regional Indicative Programme (2008-2013) for West Africa.The was budget €595 million.

The 10th EDF Regional Indicative Programme (2008-2013) for West Africa had a budget of €595 million. The EU is currently implementing its 11th European Development Fund for the period 2014-2020, with an aid budget of €30.5 billion for many of the ACP countries and Overseas Countries and Territories (OCTs), covering both national and regional programmes.

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