EU offers 129-million-euros support to Southern Mediterranean countries

The European Union (EU) on Monday decided to provide 129 million euros(144.12 million U.S. dollars) support for socio-economic development and regional cooperation in the Southern Mediterranean.

Of the new funding, 50 million euros will be channelled to Egypt, 38.6 million euros to Palestine and over 41 million euros to EU's southern neighbourhood region which includes Algeria, Egypt, Israel, Jordan, Lebanon, Libya, Morocco, Palestine, Syria and Tunisia.

It aims to enhance socio-economic development and job creation, security promotion of women rights, improved water resource management as well as youth empowerment in these countries through bilateral or regional projects, according to a statement released on Monday by European Commission.

"It will make a difference in citizens' daily lives and improve their living conditions. It will also tackle security and youth empowerment, two key areas of our EU support which are crucial for bringing more stability to this volatile region," said Johannes Hahn, EU commissioner for European Neighbourhood Policy and Enlargement Negotiations.

The statement said this new assistance, a new action in the framework of renewed European Neighbourhood policy, will be given through the European Neighbourhood Instrument.

Under the circumstances of refugee crisis, the EU has increased its economic support to Southern Mediterranean countries, where large number of refugees are fleeing from or passing through. Enditem