LOME, Nov. 3 (Xinhua) -- The European Union (EU) has accorded the Togolese government a budgetary aid worth 15 million euros (22.5 million U. S. dollars), according to the latest agreement between both sides.

    Under the agreement signed on Monday in the Togolese capital Lome the aid is aimed at reducing poverty by measures to improve the West African country's public finance management, macro-economic stabilization and transparency.

    The accord was signed by Togolese Minister for Cooperation and Development Gilbert Bawara and the head of EU Commission delegation to Togo, Patrick Spirlet.

    Stirlet said the signing of this accord showed the cooperation between EU and Togo was in a "healthy state," confirming the Togolese government had made progress in public finance management.