India signs MoU with EC on MIP for 2007-2010

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New Delhi, Nov 30 (UNI) To provide fillip to the ongoing programmes in health and education sectors in the country, the European Commission today entered into an MoU with India on the first multi-annual indicative programme (MIP) for 2007-2010 and has allocated 260 million euros for the purpose.

Finance Minister P Chidambaram and European Commission (EC) Trade Commissioner Peter Mandelson signed the MoU during the India-European Union (EU) Summit here, an official statement said.

The proposed allocation of funds under the first MIP in the health sector is 100 million euros, education 70 million euros and implementation of joint action plan (JAP) 80 million euros.

The EC conceptualises multi-annual economic and development cooperation programmes to be implemented in partner countries through their country strategy papers (CSP).

The CSP generally covers two consecutive MIPs of 3-4 years and the MIP, in turn, defines priorities for spending an indicative budgetary break down for the programme period.

The current CSP is for the period 2007-2013 and the indicative budgetary allocation by the EC is of 460 million euros divided into two MIPs of 260 million euros and 200 million euros for 2007-2010 and 2011-2013 respectively.

UNI

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