EU commits $133 million in investment aid for Latin American, Caribbean nations at summit

BRUSSELS – 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 co-operation.

The executive of the 28-nation EU said the support will centre 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.