European Commission approves financing plans for Syria and Lebanon
The European Commission (EC) has approved support for the National Financing Plans of Lebanon and Syria for 2002. A €12 million ($12.1 million) project is foreseen for Lebanon to support the implementation of the Association Agreement. Six million euros will be provided for industrial modernization in Syria.
The Commission has decided to assist the Lebanese government in improving its capacity to meet the commitments under the EU-Lebanon Association Agreement signed in June 2002.
The Agreement aims to establish a free trade area between the EU and Lebanon. The project is designed to support government efforts to liberalize trade, improvement of the legislative and regulatory frameworks and the strengthening of institutions. Workshops will be held at the beginning of and throughout project implementation in order to define detailed activities and to identify beneficiaries and counterparts.
The Government of Syria has recognized the modernization of its industrial sector as one of its major priorities. The Commission has agreed to support this process by providing six million euros for the preparatory phase of a program to prepare the Syrian industrial sector for the challenges of increased economic competition. The program will focus on the development of a clear industrial strategy, policy advice and institutional capacity- building for the key public institutions in charge of industry.
The EC adopts National Financing Plans in co-ordination with the European Investment Bank (EIB) and the Member States. The plans set out projects to be implemented during a 12-month period. These projects are chosen in the light of the relevant Country Strategy Paper, which sets priorities agreed by the country concerned for a five year period, and the National Indicative Program, which outlines planned EC spending. — (menareport.com)
© 2002 Mena Report (www.menareport.com)