EU to allocate 7B euros to develop Middle East, North Africa countries

To relaunch and strengthen the strategic partnership between the EU and its Southern Neighborhood partners, the European Commission has adopted a joint communication proposing an ambitious and innovative new Agenda for the Mediterranean, Report informs referring to the EC website.

The new Agenda is based on the conviction that by working together and in a spirit of partnership, common challenges can be turned into opportunities in the mutual interest of the EU and its Southern neighbors. It includes a dedicated Economic and Investment Plan to spur the long-term socio-economic recovery in the Southern Neighborhood. Under the new EU's Neighborhood, Development, and International Cooperation Instrument (NDICI), up to 7 billion euros for the period 2021-2027 would be allocated to its implementation, which could mobilize up to 30 billion euros in private and public investment in the region in the next decade.

The new Agenda will focus on five policy areas: Human development, good governance, and the rule of law; Resilience, prosperity, and digital transition; Peace and security; Migration and mobility; Green transition: climate resilience, energy, and environment.

The EU's Southern Neighborhood program includes ten countries: Algeria, Egypt, Israel, Jordan, Lebanon, Libya, Morocco, Palestine, Syria, and Tunisia.