EU earmarks $300m a year for Burma

EU earmarks $300m a year for Burma

The European Union (EU) and its partners have pledged more than US$300 million a year to Burma under a strategic cooperation programme from 2014 to 2016, together with loans from EU financial institutions.

EU ambassador to Burma Roland Kobia said that EU countries and their partners have made an agreement to give financial support to the country in view of the remarkable progress made under the reform process, according to a report in Burmese state media on Tuesday.

Of the annual 250 million euros (€), some €31 million is earmarked for peace-building efforts. President’s Office Minister Soe Thane said that the programme came online on 24 November.

“Euro 31 million will also be used for parliament, the 2015 election, the rule of law and the judicial system, management, and a census-taking project,” the Global New Light of Myanmar quoted him saying.

Of the remaining funds, €70m per annum is to be appropriated for a rural development programme; €40m for the health sector; €44m for education; €14m for trade and economic development; €5m for human rights issues; €16m for civil societies; and €1m for environmental conservation, the report said.

It remains unclear whether the new package supersedes or is in addition to a €90 million per year package pledged one year ago for rural development, education, governance and peace-building in Burma from 2014 to 2020.

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