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EU provides 365.5 mln euros to support Southern Mediterranean countries

Xinhua, October 27, 2015 Adjust font size:

The European Union (EU) on Tuesday said it provided 365.5 million euros (403.3 million U.S. dollars) to four Southern Mediterranean countries to promote development in the region.

Describing Algeria, Jordan, Lebanon, Morocco as partner countries, EU said its funding aims to benefit citizens in those countries by creating jobs, stimulating growth, improving living standards and promoting democratic reforms.

Among the total, 237 million euros was planned to support private sector development in all four countries to "improve the global business environment and promote economic diversification," the bloc said in a statement.

Meanwhile, another 100 million euros is designed to help improve citizens' living conditions, including through poverty reduction initiatives and better access to basic health services, said the statement, adding that this part of money would also address climate change through developing clean energy.

The remaining 28.5 million euros would be used to support "democratic reforms" in Algeria, Lebanon and Morocco, EU said.

As to individual countries, Morocco will enjoy the biggest share worth 180.5 million euros, followed by Jordan with 135 million euros. Algeria and Lebanon both will be supported with 25 million euros. (1 euro = 1.104 U.S. dollars) Endit