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EU Allots 270m Euros to Liberia
Date Uploaded: Jan 17, 2014

Economy-EU

EU Allots 270m Euros to Liberia

By Hilary Vasco Wiagbe

MONROVIA, Jan. 17(LIBNA) - The Deputy Director General of the European Commission for Development and Cooperation (EUROPEAID), Klaus Rudischhauser, has disclosed that the EU allotted 270 million Euros as a recover package for  Liberia.

Rudischhauser said of this money, 100 million will be spent on the energy sector, while the balance will go towards education and the governance sectors.

He said the EU has agreed with President Ellen Johnson-Sirleaf that energy should be a priority sector in its cooperation with Liberia.

Rudischhauser said as such the EU attaches importance to the energy sector as a key driver for development.

According to the Liberia News Agency, he told a news conference Friday at the end of a two-day visit to Liberia that the EU’s intervention in the energy sector of Liberia is intended to increase access to affordable and sustainable energy services.

He noted that when the energy sector of the country is made more viable, it will foster economic and social development, emphasizing that energy is vital to sustainable economic growth and development.

Rudischhauser stressed that the EU strongly believes that the availability of affordable supply of energy to households, institutions and enterprises increases productivity in the economy and the creation of new private enterprises and jobs.

He said the EU is one of the biggest donors to the energy sector in Liberia with a present contribution of more than 65 million Euros.

According to him, discussions are ongoing between the EU and the Government of Liberia for additional support to be allocated for Liberia over the next seven years.

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