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ACP Budget for 2020 approved by Council of Ministers
04:40 am GMT+12, 09/12/2019, Kenya

By Pita Ligaiula in Nairobi, Kenya
 
The Africa, Caribbean and Pacific (ACP) Council of Ministers has approved the Secretariat budget for 2020 with a total expenditure of Euro15.908, 671 million.
 
It is just 0.79 percent of the 2019 budget.
 
The Intra- ACP programmes that provide development financing, committed and co-managed with the European Commission (EC) to the tune of almost Euros 60 billion in the annual plans of 2018 and 2019.
 
The Council express concerned that contributions from Member States stood at just 72 percent, as at 30 September 2019 and not 100 percent as stipulated by the financial regulations of the Secretariat of the ACP Group.
 
The Council has appealed to all member states with arrears in contribution to regularise their situation without delay.
 
ACP Secretary General Patrick Gomes said the budget will need to receive a midterm review by the next session of Council to take account of structural changes and human resources requirements that would arise once institutional architecture and means of implementation of the Post Cotonou ACP – EU Agreement are clearly defined.  
 
The Council has also approved the establishment of an audit and Budget Committee and also endorsed the setting up of the ACP Endowment Trust Fund (ETF) and to be formally launched by the Head of States and Government

SOURCE: PACNEWS


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