August 15, 2017

Breaking News

European Union to provide USD 900 million to Myanmar over 7 years

 

Photo shows the European Commission headquarters in Brussels, Belgium.
Photo shows the European Commission headquarters in Brussels, Belgium.

The European Union announced on Monday it will provide EUR 688 million (USD 900) to Myanmar over the period 2014-2020 to reinforce its support to the country’s multiple transition.
The EU said in a press release that the funds will help to develop rural areas and agriculture, improve food and nutrition security, governance and the rule of law, support education and contribute to peacebuilding, reflecting the new partnership the EU and Myanmar have been building since 2011.
According to the press release that underlines the EU’s full commitment to boost the four focal areas of its cooperation, Myanmar will receive EUR 241 million each in the education sector and the area of rural development, agriculture and food and nutrition security. In support of democratic and institutional reforms, the EU plans to provide the country’s sector of governance, rule of law and state capacity-building with EUR 96 million.  Up to EUR 103 million has been allocated for helping promote lasting peace, security and stability in Myanmar, it said.
“With this support over the next seven years, the EU will build on its ongoing initiatives and continue to promote peace, inclusive growth, sustainable development and democratic governance for the benefit of all people in Myanmar,” the press release added.
In 2013, EU sanctions against Myanmar were lifted and the EU representative office opened here following the historic visits of President U Thein Sein to five EU member countries: Norway, Finland, Austria, Belgium and Italy.

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