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EU commits US$133m for Latin America, Caribbean

Published:Wednesday | June 10, 2015 | 2:52 PM

The European Union has committed €118 million (US$133 million) in investment support for Latin America and Caribbean nations at the start of their two-day summit.

The European Commission said Wednesday that the combination of loans, grants and other financial operations would seek to enhance transatlantic cooperation. The executive of the 28-nation EU said the support will centre on the transport, energy and environmental sectors in the nations.

The EU also initialled agreements with Peru and Colombia that will enable citizens of the two Latin American countries to travel to the EU without a visa for stays of up to 90 days. Visa-free travel will be possible in almost all EU nations, excluding Britain and Ireland.