ACP hurdles to overcome in banana deal

European Union officials say a proposed compensation package for African, Caribbean and Pacific (ACP) banana producing nations has a few hurdles to overcome before it can be finally approved for disbursement.



The $260 million package is intended to help poor banana producers in the ACP under a deal that allows the European Union to reduce its tariffs on bananas from Latin America.



The European Commission says the funds should help the Caribbean and other ACP producers to adjust to the new trading environment.



Catherine Ray, the Spokeswoman for the EU’s commissioner for development, says while the commission has formally adopted the package, it has to go through an additional process of approval.