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Newsline: EU diplomats mull rerouting unused Africa development aid to ease food crisis

The European Union is considering using funds initially destined for development projects in Africa to support countries most exposed to the global food crisis caused by the war in Ukraine, EU officials and diplomats said. The provisional plan, which would allow the disbursement of nearly 600 million euros ($640 million) to boost support to countries most affected by the food emergency, was flagged by the EU Commission in two meetings last week, diplomats told Reuters. (https://finance.yahoo.com/news/eu-mulls-rerouting-unused-africa-085513036.html) The Commission said this was a possibility being discussed, but no formal proposal had yet been prepared and backing from all 27 EU governments was required. The EU largely channels development aid to African, Caribbean and Pacific countries through the European Development Fund (EDF), a facility financed directly by EU governments. Some of these funds usually go to support agriculture in poorer nations. However, committed resources are not always used in full, an EU official said. The Commission told EU envoys last Wednesday that 577 million euros were potentially available under EDF decommitted funds for past years, diplomats said, and that money could be used to address the deteriorating situation in global food supplies. Some of these unused funds had been re-allocated to bolster security in Africa, but have not been spent.

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