Brussels, 24/07/2014 (Agence Europe) - For the 2014-2017 period, Ecuador will be able to count on EU aid of €67 million “and the EU will stand shoulder to shoulder with the country as it continues on the road to growth”, said European Commissioner for Development Andris Piebalgs, who is currently visiting the country. Ecuador has recently made considerable progress in economic growth and reducing poverty.
The aid will be focused on local development and sustainable trade - areas than can “help the country reach a more inclusive growth and further reduce poverty”, the European Commission states. EU support to Ecuador has already been translated into significant results. In education, for example, EU support has contributed to a substantial increase in access to general basic education. By the end of 2013, more than 95% of children of school age were attending schools.
Ecuador is now the third fastest growing economy in Latin America and has the lowest unemployment rate (4.86% in 2013) in the whole region. EU bilateral funding will therefore be gradually phased out, in line with the principles set out in the Agenda for Change programme, adopted by the EU in 2011 to establish the EU framework and development cooperation priorities after 2013 by refocusing EU aid on the countries and sectors which need it most and where it can make the biggest difference.
After 2017, Ecuador will be able to continue to benefit from EU funding under regional and thematic instruments, but no longer under development aid, the Commission states. (AN)