The European Development Fund (EDF) has so far spent over £4.7 billion in support of Nigeria and other countries, Checkout Magazine learnt.
The project budget is £4,789,417,222 to assist African, Caribbean and Pacific (ACP) countries. It started on December 13, 2010 and will end on December 31, 2027.
EDF provides financial support to ACP countries and Overseas Countries and Territories (OCTs) to eradicate poverty, support sustainable development and integrate ACP countries into the world economy.
The funding is implemented by European Investment Bank, European Commission and Directorate-General for International Cooperation and Development.
In 2015, the EU, signed a regional funding for cooperation with representatives of regional organisations from West Africa, covering the time until last year.
The Regional Indicative Programme under the 11th European Development Fund amounted to a total of €1.15 billion. The West Africa Regional Indicative Programme was co-signed by the Economic Community of West African States (ECOWAS) and the West African Economic and Monetary Union (UEMOA).16 Countries benefited from the EU-West Africa Regional Indicative programme.These included Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra Leone and Togo. Under the 10th EDF Regional Indicative Programme (2008-2013) for West Africa. The was budget €595 million.
