Algeria, EU adopt new financial cooperation framework for next two year

May 15th, 2018

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APS : MONDAY 14 MAY 2018

BRUSSELS-Algeria end the European Union (UE) adopted Monday in Brussels a new financial cooperation programme named “Unique support framework” (CUA) that defines the priorities
of bilateral technical and financial cooperation under the European Neighborhood Instrument (ENI) for the next two years.
Adopted at the 11th Algeria-EU Association Council, this mechanism is worth between €108 and €132 million and could be adapted according to developments.
“The priorities include support to the reforms aimed at diversifying the Algerian economic model. Concretely, we seek to support the business environment in which SMEs operate,” said the EU High Representative and Vice-President Federica during a joint press conference with Foreign Minister Abdelkader Messahel after the 11th Algeria-EU Association Council.
According to Mogherini, the EU also intends to back quality agricultural products, local development and renewable energy under a dialogue on energy, very important to both sides”, as well as scientific research and economic innovation.
The CUA’s priority thrusts focus on support to governance, economy diversification and competitiveness, inclusive and sustainable local development, participatory democracy and energy, as well as environment and climate action.
The mechanism also provides for strengthening institutional capacities and civil society, with a particular focus on youth.
Funded with €111.3 million under the ENI, the previous CUA 2014-2017 backed the sectors of justice and civil society, the labour market and job creation reform, as well as economic diversification, according to data published by the European External Action Service (EEAS).
Algeria and the EU also inked a convention on the funding of the Agriculture Sector Support Project (PASA), which comprises water management, agri-food and agricultural pollution.
This inter-sectoral programme strengthens some strategic segments for food security in Algeria and those with a real export potential, said the EU.
“Our cooperation and our partnership are therefore extremely concrete,” said Mogherini.