EU provides €365.5 million to support Southern Mediterranean countries

1 min read

The FINANCIAL — EU provides €365.5 million to promote private sector development, democratic reforms and better living conditions in Southern Mediterranean partner countries (Algeria, Jordan, Lebanon, Morocco).

Johannes Hahn, Commissioner for European Neighbourhood Policy and Enlargement Negotiations, commented: “Today’s new EU assistance package will directly benefit citizens in partner countries by creating jobs, stimulating growth and improving living standards, including among the most vulnerable. This EU support is crucial given the various challenges our Southern Mediterranean partners are currently facing”.

Out of this package, €237 million will support private sector development in all four countries. This includes improving the global business environment and promoting economic diversification. The funding will also assist partner countries in creating job opportunities, conducting vocational training reforms and boosting micro, small and medium-sized enterprises, according to the European Commission.

€100 million will contribute to improving citizens’ living conditions, including through poverty reduction initiatives and better access to basic health services. Moreover, it will address effects of climate change through the development of renewable energy and energy efficiency actions.

The remaining €28.5 million will support democratic reforms in Algeria, Lebanon and Morocco. It will notably target the promotion and strengthening of civil society, citizens’ participation in public local life and support judiciary and penitentiary system reforms.

 

See also  APC Colombia and United Nations ESCAP formalize partnership to promote business innovation for the Sustainable Development Goals

Leave a Reply