EDF supports Nigeria, others with $6b

By Daniel Essiet

The European Development Fund (EDF) has so far supported Nigeria and other countries  with £4,732,573,734   (about $6,622,148,448.77).

The project budget is £4,789,417,222 to  assist African, Caribbean and Pacific (ACP) countries. It started on December 13, 2010 and will end on December 31, 2027.

EDF provides support to 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 last year.

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.