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European Commission funds to help vulnerable countries


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European Commission funds to help vulnerable countries
European Commission President Ursula von der Leyen. (Reuters)

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BRUSSELS – The European Commission (EC) said it will mobilise €600 million from the reserves of the European Development Fund (EDF) to address the current food security crisis in African, Caribbean and Pacific (ACP) countries aggravated by Russia’s invasion of Ukraine.

The EC said these funds will support those countries to “cope with the dire situation”, through humanitarian assistance, totalling €150 million, sustainable production and resilience of food systems (€350 million) and macro-economic support (€100 million).

“Russia’s war of aggression is taking a heavy and senseless toll, not only on the Ukrainian population, but also those most vulnerable around the world,” said EC President Ursula von der Leyen in announcing the new support measure.

“Russia is still blocking millions of tons of desperately needed grain. To help our partners we will mobilise an additional €600 million to avoid a food crisis and an economic shock.”

Commissioner for International Partnerships, Jutta Urpilainen, said “solidarity is at the core of our European Union values”.

“The most vulnerable are facing tremendous suffering with a worsened food crisis following Russia’s war of aggression against Ukraine. With these additional €600 million, we will strengthen our support to address the crisis, while contributing to sustainable and resilient food systems.”

The EC proposes to direct the €600 million mobilised from the EDF reserves to support the most affected ACP countries.

The EC said the funds will also sustain macro-economic support by providing EURO 100 million for the Poverty Reduction and Growth Trust (PGRT) of the International Monetary Fund (IMF), which will facilitate support to affected countries.

The EC said EU support to the PRGT is part of a “Team Europe approach”, adding that additional contribution is expected to “incentivize other donors to contribute as well”.

The Commission said the new funding comes on top on top of already mobilised humanitarian assistance worldwide, and funds from NDICI-Global Europe earmarked for projects on sustainable agriculture, basic nutrition, water and sanitation.

Another EURO 960 million are foreseen under NDICI-Global Europe for Latin America and the Caribbean and Asia until 2024, the EC said. (CMC)

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