The European Union pledged on Wednesday to put an extra 300 million euros ($360 million) a year into helping poor countries to trade effectively as its contribution to the G8 rich states' summit. European Commission President Jose Manuel Barroso made the announcement at the gathering of the Group of Eight leading industrialised nations at Gleneagles, Scotland, where fighting African poverty is a priority. Although he is not a national leader, the Commission president attends G8 summits, according to Reuters. Barroso said the Commission would increase its funding to help poor states to boost their trading capacity with projects such as improving roads and waterways and modernising customs services. "What I am proposing -- and what I will be bringing to the table at Gleneagles -- is a significant boost for aid for trade, aimed at helping developing countries help themselves, by enabling them to turn market opportunities into reality," he said. "Africa will be an important beneficiary." The Commission said the increased funding would bring total EU "aid for trade" to 1 billion euros per year.
