EU commits $133 million for Latin America, Caribbean

Jun 10, 2015, 12:06 PM
Delegations begin to gather for the EU-CELAC summit in Brussels on Wednesday, June 10, 2015. Europe...
Delegations begin to gather for the EU-CELAC summit in Brussels on Wednesday, June 10, 2015. European leaders and their Latin America and the Caribbean counterparts meet on a biannual basis in an effort to maintain international and economic ties. (AP Photo/Virginia Mayo)
(AP Photo/Virginia Mayo)

BRUSSELS (AP) — The European Union has committed 118 million euros ($133 million) in investment support for Latin America and Caribbean nations at the start of their two-day summit.

The European Commission said Wednesday that the combination of loans, grants and other financial operations would seek to enhance trans-Atlantic cooperation.

The executive of the 28-nation EU said the support will center on the transport, energy and environmental sectors in the nations.

The EU also initialed agreements with Peru and Colombia that will enable citizens of the two Latin American countries to travel to the EU without a visa for stays of up to 90 days.

The agreements are likely to enter force in late October. Visa-free travel will be possible in almost all EU nations, excluding Britain and Ireland.

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EU commits $133 million for Latin America, Caribbean