EU pledges $46.4bn for MENA renewables, borders, and migration
This doubled financial commitment, under a new funding instrument, aims to enhance stability and cooperation in the region.
Speaking during a press conference in Brussels on July 17, EU Commissioner for Democracy and Demography Dubravka Suica said the increased budget reflects the bloc's strategic shift toward deeper cooperation with countries in region.
'This is a strong financial toolbox, with which we will invest in stability, security and prosperity, through mutually beneficial partnerships with our Southern neighbors in the Middle East, North Africa and the Gulf,' she said, emphasizing that the Mediterranean is not only a region of challenges but also one of opportunities.
Suica further noted that the EU will support partner countries in addressing the underlying causes of socio-economic fragility, which she said are central to political instability and radicalization.
She added that the bloc will also confront the challenges of the green transition by investing in renewable energy projects, benefiting citizens on both sides of the Mediterranean.
'These increased funds will enable us to respond more effectively to an increasingly volatile geopolitical context right at our doorstep,' the commissioner said.
She stressed that the stability and prosperity of the Mediterranean are directly linked to Europe's own.
'Their safety is our safety. Their success is our shared success. Their protection of borders is also ours.'
Suica described the Multiannual Financial Framework as an instrument that will strengthen the union, both internally and internationally.
'This new framework enables us to better protect our interest on a global stage and protect our values and interests in an increasingly complex geopolitical context,' she concluded.
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