The European Union will provide 118 million euros (USD162.16 million) worth of financing agreements with some African trading blocs and regional development organizations, Business Week reports. Africa’s largest trading bloc, the Common Market for Eastern and Southern Africa, will get 67.1 million euros. The funds will also benefit the Indian Ocean Commission, the East African Community and the Intergovernmental Authority on Development, a seven-country regional development organization based in Djibouti.
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About the author
Ivy Mungcal
As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.
