The European Commission announced on Thursday that the Falkland Islands has been allocated a sum of 5.9million Euros to support economic development activities between 2014 and 2020. The announcement of the new allocation under the European Development Fund was made at the 12th Annual OCT-EU Forum being held in Brussels this week.
The European Commission decided to cut aid from its 2014-2020 budget to 19 emerging economies including Brazil, Argentina, Uruguay and seven other Latin American countries, the EU development commissioner Andris Piebalgs said on Wednesday.