Reuters AlertNet Lite - EU pledges $970 mln in aid for Andean countries

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EU pledges $970 mln in aid for Andean countries

20 Apr 2007 16:41:52 GMT
Source: Reuters

BRUSSELS, April 20 (Reuters) - The European Union pledged 713 million euros ($970 million) in aid to Bolivia, Peru, Colombia and Ecuador on Friday as it prepares for talks with the Andean countries on strengthening ties.

The EU's executive commission said the aid, which will be spread over six years, would help tackle social inequalities, the drugs trade and promote law enforcement.

Talks are scheduled to start in May in La Paz on an agreement covering political dialogue, cooperation and trade, the EU said in a statement.

"By then it is expected that the Andean community will have made further progress on regional integration," it said.

Preparations for the talks were disrupted last year by in-fighting among the Andean countries.

Bolivia's left-wing President Evo Morales had said his government might not join the EU negotiations because of the other three countries' trade ties with the United States.

Under the terms of the EU aid package, Bolivia will receive $319 million to help increase employment and tackle the illegal drug trade. Colombia will receive $218 million, mainly for peace and stability initiatives.

Ecuador will receive $186 million to help fund employment and education schemes, and boost the small- and medium-sized company sector.

Peru will receive $180 million for modernising its public institutions, while a further $68 million will be granted for regional cooperation.

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Last updated:Fri Apr 20 16:42:19 2007