EU To Offer Incentives For North Africa Reform

EU To Offer Incentives For North Africa Reform

The European Union has emphasied that it may offer financial and regulatory incentives to North African countries to encourage them to make democratic reforms.

EU summit plan

Citing a draft it said it had obtained, the Financial Times said the move was part of a plan being prepared for an EU summit in Brussels on Friday and included additional development aid, loosening immigration restrictions and lowering trade barriers.

At the summit on North Africa, leaders will discuss the EU's humanitarian and political response to events in the region, particularly Libya where fighting has broken out between government forces and rebels trying to seize control from Muammar Gaddafi.

"Those that go faster and faster with reforms will be able to count on greater support from the EU," the 16-page blueprint stated.

Draft

While it did not specify how the EU would measure democratic progress, the draft said "support may be re-allocated or refocused for those who stall or retrench on agreed reform plans" .

Officials were expected to expand the list of Libyan financial entities under sanctions, including its sovereign wealth fund, the Libyan Investment Authority and the Libyan Central Bank.

Sanctions on Libya

The EU has already imposed a range of sanctions on individual Libyans, including Gaddafi and his immediate family, as well as an arms embargo, travel bans and a ban on exports of equipment such as riot gear and teargas which could be used by Libyan security forces against protesters.

The EU on Sunday sent a mission to Tripoli to report back on humanitarian and evacuation needs.

Reuters/NAN/Margaret