Friday, April 16, 2010

European Union Gives 118 Million Euros to African Trading Blocs

March 15 (Bloomberg) -- The European Union will today sign project financing agreements totaling 118 million euros ($162.16 million) with two African trading blocs and two regional development organizations in Nairobi, the Kenyan capital, it said in an e-mailed statement yesterday.

The Common Market for Eastern and Southern Africa, the continent’s biggest trading bloc, will receive 67.1 million euros. Other beneficiaries are the East African Community, the Indian Ocean Commission and the Intergovernmental Authority on Development, a Djibouti-based seven-country regional development organization.