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Saturday, March 17, 2012

EU Pledges US$55 Million Aid Funding For Dominican Republic, Haiti

The European Union (EU) has pledged 42 million euros (US$54.6 million) in aid to fund infrastructure, trade and sustainable development projects in the Dominican Republic and Haiti, according to an agreement signed Wednesday.

Chief of the EU delegation, Ambassador Irene Horejs, said the agreement was aimed at promoting trade, sustainable development and socioeconomic development in communities along the border the two Caribbean island nations share, Xinhua news agency reported.

It objective is to drive local development and generate jobs and revenue in the region by promoting trade between the two nations, said Horejs.

Domingo Jimenez, EU director in charge of coordinating European development funds, stressed the benefits of the agreement.

The agreement calls for the construction of a binational market in Dajabon and Juana Mendez, twin border cities, and overhauling the customs infrastructure in the border zone.

More than 23.2 million euros (US$30.1 million) will be released as part of the initial aid funding under the agreement.

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Source: Bernama

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