Ministry of Finance presents proposal of the European Investment Bank to the Council of Ministers
The Ministry of Finance, through the acting Minister of Finance and current Deputy Minister of Finance, Sara Lobo Brites, presented, on June 12, 2019, a proposal regarding technical assistance to the Government of Timor-Leste by the European Investment Bank. This proposal was presented at the Meeting of the Council of Ministers, at the Government Palace in Dili.
The European Investment Bank, a non-profit European Union institution based in Luxembourg which provides loans, guarantees and provides technical assistance and capital for business projects, intends to support Timor-Leste in the preparation of investment projects which the Government will try to implement.
This agreement encompasses technical support in implementation to various Ministries, such as the Ministry of Transport and Communications (MTC), the Ministry of Public Works (MOP), the Ministry of Health and the Ministry of Education, who wish to carry out studies for some projects that are aligned with the National Development Strategic Plan (NSDP), as well as with Government priorities.
"The European Investment Bank wants to provide 5 million euros for technical support in the preparation of investment projects that the Government intends to implement," said Acting Minister of Finance, Sara Lobo Brites, at the Government presentation of this proposal at the Meeting of the Council of Ministers.
The Council of Ministers approved the content of this program, which now goes through the agreement stage for signature before sending it to Brussels.
