Brussels, 23 July 2014
New funding for Ecuador announced by Commissioner Piebalgs during visit
Significant new support to Ecuador for the years 2014-2017 will be announced by Development Commissioner, Andris Piebalgs, during a visit to the country. The Commissioner’s high level visit will include meetings with ministers, local authorities and civil society groups, as well as visits to EU projects around the country.
The new bilateral funding of €67m will be provided to reduce poverty, support inclusive growth, as well as fostering sustainable trade to further boost the country’s economic development.
Commissioner Piebalgs said: “The EU and Ecuador already enjoy a strong and productive partnership and I’m delighted to underline today that we can both look forward to fruitful ongoing cooperation over the years to come. Ecuador has made impressive progress in recent years and the EU will stand shoulder to shoulder with the country as it continues on the road to growth."
EU support to Ecuador has already achieved significant results. In education for example, it has contributed to a substantial increase in access to general basic education, with by the end of 2013 more than 95% of children of school age attending schools.
Ecuador has recently made significant progress in terms of poverty reduction and economic growth; it is now the third fastest growing economy in Latin America; with the lowest unemployment rate (4.86% in 2013) in the region globally. As such, EU bilateral funding will be gradually phased out. This evolution is in line with the principles set out in the Agenda for Change (the EU’s policy blueprint to refocus its aid to prioritise those countries and sectors which need it most and where it can make the biggest difference).
However, with a view to consolidating previous results it was decided that Ecuador would continue to benefit from EU bilateral aid between 2014 and 2017 with support focusing on areas like local development and sustainable trade, in order to help the country reach a more inclusive growth and further reduce poverty. Beyond 2017, Ecuador will be able to continue to benefit from EU funding under regional and thematic instruments.
During the visit, the Commissioner will visit a number of EU projects around the country. In Peguche, he will visit a textile factory where artisanal products are made, helping to provide job opportunities for 1200 artisans (particularly young people and women), in the area. In Ibarra, he will get chance to meet local bean producers at the Forcafrejol factory.
For more information:
MEMO/14/493 - EU cooperation with Latin America
Website of the European Commissioner for Development, Andris Piebalgs:
Website of EuropeAid Development and Cooperation DG: