The African Union (AU) on Friday signed an agreement with the European Union (EU), formalizing an EU contribution of 50 million euros (70 million U.S. dollars) to support the African-led International Support Mission to the Central African Republic (MISCA). The agreement was signed at AU Headquarters in Addis Ababa, by the AU Commissioner for Peace and Security, Smail Chergui, in the presence of Head of EU Delegation to the AU, Gary Quince, said AU in a statement. The contribution which covers the period from August 2013 to June 2014 will be used to pay troop allowances and other MISCA expenses, according to the statement. Commissioner Chergui thanked the EU for its sustained support to AU's efforts to enhance peace and security in Africa, and emphasized on the importance of close cooperation and coordination between the AU and all multilateral and bilateral Partners, to help restore security, stability and the rule of law in the Central African Republic (CAR).