Joint European Union and European Investment Bank visit to the Cook Islands

Officials from the Delegation of the European Union (EU) for the Pacific and the European Investment Bank (EIB) will visit Rarotonga from 17 – 21 May to discuss current and future cooperation with the Cook Islands.
The four-person delegation will meet with Government Ministers and officials, including the Deputy Prime Minister and Minister of Finance. Meetings will also be held with the Bank of the Cook Islands (BCI), Airport Authority and the Chamber of Commerce.
Under the European Development Fund (EDF) program for the Cook Islands, EU funding is committed to the Pukapuka Cyclone Shelter and Muri Sanitation Projects. Discussions on both Projects are expected to be a key part of the visit with a planned visit to Muri for discussions and a site inspection of the Sanitation Project.
The EIB, the EU’s “house bank” provides finance and assistance to members of the African, Caribbean and Pacific (ACP) Group under the Cotonou Agreement. EIB is focused on fostering private sector-led initiatives that promote economic growth and contribute to reducing poverty.
In October 2009, EIB signed an agreement with BCI establishing a EURO 3 million package for long-term funding to improve access to finance for small and medium sized enterprises in the Cook Islands. Discussions will be held next week with BCI to progress this initiative further.
“The recent devastation caused in Aitutaki emphasizes the vulnerability of the Cook Islands to natural disasters and the EU’s continued commitment to the Pukapuka Cyclone Shelter Project is very much appreciated,” said Jim Gosselin, Secretary of Foreign Affairs and Immigration. “The Cook Islands is grateful for the continued interest and support of both the EU and the EIB to the Cook Islands over the years and we look forward to next week’s visit as a useful opportunity for discussions on deepening current and future collaboration.”
- Foreign Affairs Media Release

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