Mauritius is set to receive an additional 697,160.58 Euros to support its regional integration programmes following the signing of her third Grant Agreement with COMESA, on Monday 20th June 2016.
The Grant which was signed at the Ministry of Finance Headquarters in Port Louis is the 3rd since the 11th COMESA Fund Committee approved Mauritiusâ€™ Progress Monitoring Report in December 2015.The funds are part of a â‚¬111 million kitty provided by the European Union under the 9th and 10th European Development Fund through the COMESA Adjustment Facility (CAF).
The Minister of Finance & Economic Development,Hon. Pravind Jugnauth, signed on behalf of the government while Secretary-General Sindiso Ngwenya signed on behalf of COMESA.
Speaking during the signing ceremony Minister Jugnauth, expressed his happiness to have signed the agreement under which further assistance would be extended in support of regional integration.
The Minister stated that the agreement would assist in further removing trade barriers within COMESA and thus enhance Mauritian trade and other exchanges with COMESA Member States.
He also indicated that COMESA is facilitating investment in infrastructure development projects that would bring about the much needed regional economic integration.
Secretary-General Sindiso Ngwenya said the resources being given are in addition to allocations that were disbursed to Mauritius between 2012 and 2014 bringing the total amount received to over 3.5 million Euros.
In addition to the Grant Agreement signed today, Mr Ngwenya said that Mauritius has the opportunity to receive an additional amount close to 1.75 million Euros in 2016 and 2017.