ACP leaders agree to build Long Term Fund

Africa, Caribbean and Pacific (ACP) member States have agreed to establishing a Long Term Empowerment Fund to achieve financial autonomy for the 79 member states.

ACP president and host Prime Minister Peter O’Neill revealed this in his closing remarks to the 8th ACP heads of states and government meeting in Port Moresby.

 “This summit has been fruitful and insightful. The decision we have taken today are to take us forward in the repositioning the ACP group.

The three themes the leaders deliberated over during the close door session were, the Paris Agreement that sets the parameter for global corporation and action on climate change, Agenda 2030 on sustainable development, and Addis Ababa Action Agenda on financing development.       

O’Neill added that leaders agreed on restructuring the ACP Secretariat to be effective and also encourage more trade between member states.

The summit also adopted the Port Moresby Declaration and Waigani Communique.

“The Port Moresby Declaration capture the main outcome of the 8th summit ACP leaders discussion and the Waigani Communique sets the way forward for the future of the ACP Group beyond the expire of the Cotonou Agreement in 2020,” O’Neill said. 

The agreement captures the funding that European supports the ACP States.

Charles Yapumi