By Richard Johnstone | 24 March 2014
A €2.5bn six-year European Union aid package is set to boost the governance and accountability of tax and spending programmes across Latin America, it was announced today.
The funding, unveiled by EU development commissioner Andris Piebalgs, will support a programme to improve social cohesion in the region.
The package marks a new step in the way the EU works with Latin America, Piebalgs said, and will fund development initiatives across 18 countries up to 2020.
‘We are not turning our back on this continent – we are looking forward with it, together,’ he said.
‘I’ve visited Latin America several times recently and have been very proud to see the EU’s contribution to the impressive progress the continent has made over the last decade. I’m convinced that this new chapter in our relationship will see our partnership flourishing.’
According to the European Commission, the new tranche of funding will be focused on areas where it can make the greatest difference.
In consultation with Latin American partner countries, areas identified for support include improved governance, accountability and social equity, as well as helping foster inclusive and sustainable economic growth.
Support will also be targeted towards the EU’s strategic priorities for cooperation with Latin America, covering governance improvements and better accountability of tax collection and spending.
Eighteen countries are eligible for support under the programme. These are: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay, Venezuela.
