K500m funding deal between Pacific and Europe

The European Union (EU) and the Pacific Islands Forum Secretariat (PIFS) have signed the Pacific Regional Indicative Programme (RIP) funded under the 11th European Development Fund (EDF) for the period 2014-2020.

The Pacific RIP amounts to EUR 166 million or more than  K500 million.

Forum Secretariat secretary general Dame Meg Taylor and the European Commissioner for International Cooperation and Development, Mr Neven Mimica signed the 11th EDF Pacific RIP

The Pacific RIP will benefit the 15 Pacific ACP countries (Cook Islands, Timor- Leste, Fiji, Kiribati, Federated States of Micronesia, Nauru, Niue, Palau, Papua New Guinea, and Republic of the Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu).

The key priorities under the Pacific RIP include regional economic integration; sustainable management of natural resources and the environment, and the management of waste; and inclusive and accountable governance.

These priorities were determined through a consultative process which started  in 2012, involving all the PACP states, technical agencies in the region, civil society and other key stakeholders.

Commissioner Mimica, on his first mission to the Pacific, reaffirmed the role of the European Union as a reliable partner of the Pacific and highlighted the importance of the regional programme.

"Our ambition is to support the sustainable development of opportunities and resources in the Pacific region. The new governance arrangement will involve Pacific countries more closely in the programming, design, implementation, monitoring and evaluation", Commissioner Mimica said.

 The 11th EDF Regional Steering Committee for the Pacific will further discuss the implementation plan for the Pacific RIP, including the intended support to investment project