Portuguese-speaking African countries and Timor-Leste may benefit from 1 billion euros of EU funding

13 March 2014

Portugal can submit cooperation projects involving the Portuguese-speaking African countries and Timor-Leste (East Timor) which may be eligible for up to 1 billion euros of European Union funding, said the state secretary for Foreign Affairs and Cooperation.

Luís Campos Ferreira told Portuguese news agency Lusa that the community’s 2014-2020 budget had earmarked a billion euros of funds that could benefit Portugal’s traditional cooperation partners – the Portuguese-speaking African countries and Timor-Leste.

“We may have a new source of financing here, which should enable us to create interesting projects that can be financed by those funds,” he said.

Campos Ferreira explained that Portugal is far from meeting the targets regarding cooperation funds, such as the goal of setting aside 0.7 percent of gross national product for development aid by 2015, as requested by the United Nations.

“It’s an ambitious target, but it’s an amount not seen as an expense or donation, but rather as investment with its corresponding return,” he said, adding that “cooperation should nowadays be understood to mean a sharing of benefits.” (macauhub)