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close this bookThe Courier N 152 - July - August 1995 - Dossier: NGO's - Country Reports: Belize, Malawi (EC Courier, 1995, 104 p.)
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LomV mid-term talks concluded

The negotiations in the mid-term review of the fourth Lomonvention finally ended with agreement in Brussels just before midnight on the evening of 30 June 1995. The talks, which began early last year, had been progressing relatively well until EU ministers sat down to discuss funding for the eighth European Development Fund. Initial 'offers' from the EU Member States revealed major divergences among the contributing countries. Some sought a real terms increase, others were happy to maintain the level of funding and others still demanded reductions. Following strenuous efforts by the French Presidency, a compromise acceptable to all the Union countries was reached at the Cannes Summit of European Heads of Government. The EU leaders agreed to propose an 8th EDF of ECU 13.307 bn (compared with ECU 10.8 bn for the 7th EDF). Although the ACP 'bid' was for considerably more, they have lost little time in approving the deal. A few outstanding substantive issues, notably as regards trade cooperation, were also settled at the Brussels meeting, allowing the closure of the talks to take place just minutes before the French Presidency came to an end. Overall, the Financial Protocol for the second five-year period of LomV sets aside the sum of ECU 14.625 billion. This includes the above EDF figure and the funds to be made available through the European Investment Bank. This represents a nominal increase of almost 22 % on the previous protocol (ECU 12 billion). More detailed information about the outcome of the negotiations will be provided in the next issue of The Courier. Later in the year, once the changes to the Convention and the Financial Protocol have been signed by the contracting parties, we will be devoting a complete number to the revised Convention. This will include the full treaty text, and comment and analysis from the some of the key players. S.H.