The European Union and 79 countries from Africa, the Caribbean and the Pacific (ACP) met in  Ouagadougou (Burkina Faso) on June 22nd, for the  ACP-EU Joint Council. As result of this meeting the second revision of the Cotonou Partnership Agreement was signed. This second revision streamlines the text, adapting it to changes in trade and aid policies that occurred in the last five years.

The European Union and the African, Caribbean and Pacific (ACP) states signed on June 22nd, in Ouagadougou, Burkina Faso, an agreement amending the Cotonou Agreement for the second time. As part of the review, provisions against the proliferation of small arms and light weapons were strengthened as were those against new security threats, such as organised crime and trafficking of human beings, drugs and weapons.

Moreover, the review facilitates assistance to ACP states for adapting to global warming and for integrating climate change into their development strategies. It also improves support to the aquaculture and fisheries sectors in ACP states and to the fight against HIV/AIDS. In addition, it will accelerate work towards mutual recognition of higher education qualifications and reinforce regional cooperation within the ACP group of states.

The Cotonou Agreement constitutes the foundation of the special relationship between the EU and ACP nations. It is aimed at reducing and eventually eradicating poverty as well as at sustainable development and the gradual integration of the ACP states into the world economy.

EIB welcomes second revision of Cotonou agreement

The President of the European Investment Bank (EIB) welcomed this second review of the agreement, a revision that will notably allow to enhance EIB's financing of regional infrastructure projects together with ACP sponsors. It will also offer the possibility for the Bank to accompany South African intermediaries in their drive towards regional economic integration for projects located in the rest of Africa.

During the ACP-EU Joint Council, EIB President Philippe Maystadt reiterated the Bank’s commitment to actively contribute to the financing of climate change projects in developing countries and proposed to launch an EU climate action initiative together with the European Commission and EU Member States.

Since the entry into force of the Cotonou Agreement in 2003, about EUR 4.2 bn worth of projects have been signed by the EIB under its Cotonou mandate in ACP countries, more than a third being in the infrastructure sector (energy, transports, telecommunication as well as water and sewerage).