New EU Support to Regional Cooperation in Southern Mediterranean
OREANDA-NEWS. The European Union announces today a new assistance package of over €129 million to support socio-economic development, job creation and youth empowerment in the Southern Mediterranean. This assistance is provided through the European Neighbourhood Instrument in the framework of the renewed European Neighbourhood policy.Today’s assistance package includes over €88 million to support bilateral cooperation projects that will benefit citizens in Egypt (€50 million) and Palestine (€38.6 million) through enhanced socio-economic development and job creation, promotion of women rights, improved water resource management and youth empowerment.
In addition, over €41 million will fund regional cooperation programmes which will benefit the Southern Neighbourhood region as a whole and tackle major common regional challengesfaced by the partner countries, such as job creation, security, socio-economic inclusionand youth empowerment. These regional projects will complement the bilateral cooperation projects.