TT gets $500m in EU funding

Discussions for a new Cotonou agreement is ongoing as the old agreement is set to expire in 2020. In a media release yesterday,

Planning and Development Minister Camille Robinson-Regis stated TT has accessed TT$500 million in funding from EU Partnership programmes. The funding is part of the European Union (EU) Partnership Agreement Meeting for the African, Caribbean and Pacific Group of States (ACP), better known as the ACP-EU Partnership Agreement or the Cotonou Agreement. The funding period is coming to a close in 2020 and TT is currently giving attention to engaging with the ACP Group and the EU, she stated.

The Cotonou Agreement was signed on June 23, 2000 and was established for a 20-year period from 2000 to 2020 and is currently the most comprehensive partnership agreement between developing countries and the EU. This agreement establishes the framework for EU's relations with 79 countries from the ACP.

The Ministry of Planning and Development is the focal point for the EU’s partnership agreements in TT which has directly benefited from this programme through the 9th 10th and 11th European Union Fund (EDF) programmes from over half a billion TT dollars in grant funding resources from the EU from 2000 to date.

The projects include the development of tertiary education which received 27 million euros (TT$206 million) while TT$300 million went to health for HIV/Aids. The ministry's deputy permanent secretary led a TT delegation at the ACP-EU Partnership Agreement Meeting in Suriname from May 28-30. This meeting provided an opportunity for national and regional authorising officers; development partners, such as the European Commission, the European Investment Bank, the private sector, civil society and parliamentarians to discuss issues relating to development finance under the 11th EDF and to reflect on projections for the post 2020 period.