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European Union launches worldwide consultation on budget support

Nov 09, 2010 News

The European Union [EU] has launched a worldwide consultation on the future of budget support to developing countries. All contributions to this open consultation on EU budget support are welcome, whether from individuals, organisations or public bodies.
A green paper has been elaborated to get the discussions started, which can be consulted at http://www.delguy.ec.europa.eu/en/index.htm.
According to Ambassador Geert Heikens, Head of EU Delegation in Georgetown, “Since 1976, the EU has been a constant supporter of development in Guyana. The European Commission has important budget support programmes with Guyana, both general and also sector ones for sugar. We are confident that the consultations will enable us to continue to better provide effective assistance in the future.”
Throughout the world, budget support is the transfer of financial resources from the EU to the National Treasury of a partner country, following the respect by the latter of agreed conditions for payment. In the case of Guyana, budget support has become the EU’s main aid delivery instrument.
Between 2003 and 2009, the European Union made budget support commitments totalling over €13 billion. Increasingly however, a number of questions about the quality, value for money and impact of budget support are being raised by a range of stakeholders.
With this in mind, this worldwide consultation has been launched to refine an approach to budget support by drawing lessons from across the globe.

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