Brussels, 09/12/2002 (Agence Europe) - The European Commission has approved the strategy paper that will guide co-operation with Guyana for the period 2002-2007. 48 million euro, from the 9th European Development Fund, will be allocated to the programme, especially targeted at infrastructures and macroeconomic support for this ACP country.
In the field of infrastructures, the funds will allow for the completion of a programme aimed at shoring up the country's coastal defences to prevent the sea overrunning the land (90% of the population live on the coastal plain that lies below sea-level). For its part, macroeconomic aid will be for strengthening the social sectors (education, water, housing, health) in the framework of a national poverty eradication programme.
The placing in reserve of 9.1 million euro from the fund's total will allow for unexpected needs to be provided for (emergency aid, contribution to international initiatives for lightening the debt, compensation for the negative effects of possible losses in export revenue).