ALGERIA, ENTER ADOPT NEW FINANCIAL CO-OPERATION FRAMEWORK

BRUSSELS, Algeria end the European Union (EU) have adopted a new financial co-operation programme named Unique support framework (CUA) which defines the priorities of bilateral technical and financial co-operation under the EU’s European Neighborhood Instrument (ENI) for the next two years.

Adopted at the 11th Algeria-EU Association Council meeting here Monday, the new mechanism is worth between 108 million and 132 million Euros and may 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 media conference with Algerian Foreign Minister Abdelkader Messahel after the meeting.

According to Mogherini, the EU also intends to back quality agricultural products, local development and renewable energy under a dialogue on energy, something “very important to both sides, as well as scientific research and economic innovation.

The CUA’s priority thrusts will focus on support to governance, economic 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 Euros 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.

Source: Nam News Network

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