The European Union Signs Financing Agreement with Tuvalu to Support the Tuvalu Coconut Sector

The agreement, signed in Suva today by the Ambassador of the European Union for Tuvalu, H.E. Sujiro Seam and the Tuvalu Minister of Finance, Hon. Seve Paeniu is worth EUR 4.5 million (approximately AUD 7.3 million) and looks at supporting Tuvalu in agroforestry-based coconut replanting activities, trainings and institutional strengthening for coconut production. A part of the action will focus on providing support to enable a viable business environment for the development of the coconut industry through different product specific activities, trainings and possible investment in infrastructure and equipment for the production of high-value coconut products.  

Ambassador Seam reaffirmed the role of the EU as a reliable partner of Tuvalu and highlighted the excellent cooperation with Tuvalu through past and ongoing programmes. The new support under the Tuvalu Coconut Sector Rehabilitation Programme will further strengthen this cooperation, and expand it to a new sector.

Mohammed Nazeem Kasim | Press Officer at the EU Delegation for the Pacific

“After providing budget support to waste management in Tuvalu, the EU is proud to provide budget support for the coconut sector for the next 5 years in the framework of its blue-green alliance with the Pacific. This budget support contributes to climate resilience, strengthened economy, improved nutrition and agricultural diversification. It is in line with the EU Strategy for cooperation in the Indo-Pacific and in particular its priorities related to prosperity, the green transition and human development. ” said Ambassador Seam.

“For many years, EU has been an active and reliable partner for Tuvalu. The signing of this new funding agreement for the Coconut Rehabilitation Programme is a clear testimony of our solid and excellent cooperation.  On behalf of the Government and the people of Tuvalu, I wish to express our deepest gratitude to EU for providing this financial assistance. I am confident that this funding support will enable Tuvalu pursue its priority development aspirations particularly in the areas of food and agriculture, climate resilience, trade and private sector’ said Hon. Paeniu. 

Mohammed Nazeem KASIM | Press Officer at the EU Delegation for the Pacific

The Tuvalu Coconut Rehabilitation Programme is funded through the Global Europe: Neighbourhood, Development and International Cooperation Instrument (NDICI). The programme supports the implementation of Tuvalu’s Market-Driven Plan to Rehabilitate the Tuvalu Coconut Industry. The new Financing Agreement of total EUR 4.5 million consists of EUR 3.7  million that, which will be provided to Tuvalu in the form of a sector budget support during the next five years. In addition to the budget support, EUR 750 000 will be provided to Tuvalu in the form of a technical assistance, providing technical expertise for agroforestry-based replanting activities

(ENDS)