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STABILISING OF EXPORT RECEIPTS - STABEX : ADVANCE PAYMENTS FOR THE SALOMON ISLANDS AND WESTERN SAMOA

European Commission - IP/86/499   22/10/1986

Other available languages: FR

  The Commission has decided to grant advances to the Solomon
  Islands and Samoa under the Stabex system.
  SOLOMON ISLANDS - 8 million ECU
  The advance paid to this country to cover losses in export
  earnings in the 1986 financial year is for palm products
  (3 million ECU) and copra (15 million ECU).  The country's
  economy has been seriously affected by the aftermath of cyclone
  NAMU, which struck the island in May, and following which the
  Commission provided emergency aid of 100 000 ECU.
  SAMOA - 2.5 million ECU
  The country faces economic problems owing to the drop in the
  price of copra oil, an export on which it is heavily dependent
  (to the extent of about 50%).  This is the basis for the advance
  of 2.5 million ECU for the 1986 application year.

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