The European Community, represented by the Commission of the European Communities, has formally signed an agreement (9 ACP RPR 109 # 2) with the Global Water Partnership Organisation on behalf of the EUWI Finance Working Group, to financially support the implementation of the action entitled: Support to the Finance Working Group of the EU Water Initiative.

The duration of the Action is 24 months and the total cost of the Action eligible for financing is estimated at EUR 740,000 of which the European Commission (Water Facility) contribution undertakes to finance a maximum of EUR 400,000 equivalent to 54 percent of the estimated total eligible cost. The remaining EUR 340,000 have been secured through the EUWI Finance Working Group core funds, originally provided by the UK Department of International Development (DFID).

The financial contribution of the European Commission will help finance the provision of financial expertise at country level in response to request, help maximise opportunities for accessing EU resources, capacity building on finance mechanisms and financial policy tools in African partner countries and operations of the EU Water Initiative Finance Working Group - in particular operations related to countries in Sub-Saharan Africa.