Cotonou 2000 ACP-EU Agreement

Sectors : Quality of aid, Debt relief, Investment
Organisation : EU
Date made: 
2000
Level: 
Heads Of State
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Commitments in: Financing for Development - Quality of aid

“ARTICLE 55

Objectives

1. Development finance cooperation shall be implemented on the basis of and be consistent with the development objectives, strategies and priorities established by the ACP States, at both national and regional levels. Their respective geographical, social and cultural characteristics, as well as their specific potential, shall be taken into account. In addition, cooperation shall:

(a) promote local ownership at all levels of the development process;
(b) reflect a partnership based on mutual rights and obligations;
(c) emphasise the importance of predictability and security in resource flows, granted on highly concessional terms and on a continuous basis;
(d) be flexible and appropriate to the situation in each ACP State as well as adapted to the specific nature of the project or programme concerned; and
(e) ensure efficiency, coordination and consistency.

2. Cooperation shall ensure special treatment for LDC ACP countries and duly take into account the vulnerability of landlocked and island ACP countries. In addition, the specific needs of post-conflict countries shall also be addressed...

...5. The Community shall be responsible for taking financing decisions on projects and programmes.”

Scope: 
Africa

Commitments in: Financing for Development - Debt relief

“CHAPTER 2

DEBT AND STRUCTURAL ADJUSTMENT SUPPORT

ARTICLE 66

Support for debt relief

1. In order to attenuate the debt burden of the ACP States and their balance-of-payment problems, the Parties agree to use the resources provided for in this Agreement to contribute to debt relief initiatives approved at international level for the benefit of ACP countries. In addition, on a case by case basis, the use of resources which have not been committed in the framework of past indicative programmes shall be accelerated through the quick-disbursing instruments provided for in this Agreement. The Community furthermore commits itself to examine how in the longer term other resources than the EDF can be mobilised in support of internationally agreed debt relief initiatives.”

2. At the request of an ACP State, the Community may grant:

(a) assistance in studying and finding practical solutions to indebtedness including domestic debt, debt-servicing difficulties and balance of payments problems;
(b) training in debt management and international financial negotiations as well as support for training workshops, courses and seminars in these fields; and
(c) assistance to develop flexible techniques and instruments of debt management.”

Scope: 
Africa

Commitments in: Private Sector development and financial services for the poor - Investment

“ARTICLE 76

Investment finance and support

1. Cooperation shall provide long-term financial resources, including risk capital, to assist in promoting growth in the private sector and help to mobilise domestic and foreign capital for this purpose. To this end, cooperation shall provide, in particular:

(a) grants for financial and technical assistance to support policy reforms, human resource development, institutional capacity-building or other forms of institutional support related to a specific investment, measures to increase the competitiveness of enterprises and to strengthen the capacities of the private financial and non-financial intermediaries, investment facilitation and promotion and competitiveness enhancement activities;
(b) advisory and consultative services to assist in creating a responsive investment climate and information base to guide and encourage the flow of capital;
(c) risk-capital for equity or quasi-equity investments, guarantees in support of domestic and foreign private investment and loans or lines of credit on the conditions laid down in Annex II "Terms and Conditions of Financing" to this Agreement; and
(d) loans from the Bank’s own resources.”

Scope: 
Africa