Many investors with interests in Africa funds will have had fears over the state of the continents' economic situation confirmed following the approval of austerity measures by the European Union (EU).
Nineteen countries across the continent are set to receive a proportion of €264 million (£220 million) approved by the EU to help with problems created by the global economic crisis.
Caribbean and Pacific States will also benefit from the measures allocated under the Vulnerability Flex mechanism, which is designed to help the most vulnerable developing countries.
While serving as an indicator of the extent of problems in some of these countries, the funds may also reassure some investors concerning the stability of these nations in the near future.
However, EU commissioner for development Andris Piebalgs explained: "Developing countries continue to face important difficulties, including funding gaps in their government's budgets, as a direct consequence of the global financial crisis.
"This year, this EU mechanism will help 19 ACP [African, Caribbean and Pacific] countries maintain their level of public spending in priority areas, and therefore mitigate the social impact of the economic downturn."
The news emerged shortly before it was announced that Nigeria is planning on creating a wealth fund for investors, targeted at stimulating ten per cent economic growth.
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