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European Union offers $3.4 billion aid package for Latin America

European Union offers $3.4 billion aid package for Latin America

Posted by Juan Gavasa on March 26, 2014

The European Union plans to offer Latin America 2.5 billion euros ($3.4 billion) in development aid over the next seven years to fund projects ranging from security to education.

The EU’s Development Commissioner Andris Piebalgs said “this aid package marks a new step in the way we work with Latin America, and sends a very strong signal of our commitment to continuing to support the region’s development efforts.”

A sub-regional program for Central America is also included. A total of 18 countries are eligible for the funding — Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela.

The 2014-2020 funding includes assistance for regional programs and bilateral schemes. The aid will be focused on security, good governance and accountability, environmental projects and education and training programs for the young.

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