EU allocates €476m to help development in southern Mediterranean

The European Commission Thursday adopted an assistance package of 476 million euro to foster development and cooperation with a number of countries in the southern Mediterranean region. This assistance represents nearly one third of the total 1.5 billion euro of funding foreseen this year by the EU for the region. "This important funding constitutes a clear proof of our commitment to support partner countries' efforts to stimulate sustainable economic development and improve the living standards of citizens. It is also a testimony of our continuing support to regional cooperation in the context of the Union for the Mediterranean," said EU Commissioner for Enlargement and European Neighbourhood Policy Stefan Fule. Beneficiaries of the new allocations are: Jordan (21 million euro), Lebanon (21 million euro), Libya (5 million euro), Morocco (48 million euro) and Tunisia (55 million euro). In addition, 314 million euro are allocated to cooperation programmes that will benefit citizens in five partner countries: Algeria, Egypt, Libya, Morocco and Tunisia, in the fields of agriculture, environment, development and economic recovery. The EU's executive body is also allocating 12 million euro for regional cooperation programmes.