The European Union (EU) is set to provide 10 African, Caribbean and Pacific (ACP) banana-producing countries with a €190m support package as part of a temporary programme (2010-2013) of measures in the banana sector.
The decision was taken following a deal made in December 2010 at the meeting of the World Trade Organisation in Geneva, which saw customs duties on dollar bananas lowered.
The allocation of funds is a way of offsetting the expected losses to ACP producers as a result of an increase in imports of bananas from Latin America.
THe EU also sees this as a means of strengthening the competitiveness of the banana sector, promoting economic diversification and compensating for social, economic and environmental effects.
