(09 February 2021) – To relaunch and strengthen the strategic partnership between the EU and its Southern Neighbourhood partners, the European Commission and the High Representative today adopted a new Agenda for the Mediterranean.
The new Agenda includes a dedicated Economic and Investment Plan to spur the long-term socio-economic recovery in the Southern Neighbourhood.
Under the new EU’s Neighbourhood, Development and International Cooperation Instrument (NDICI), up to €7 billion for the period 2021-2027 would be allocated to its implementation, which could mobilise up to €30 billion in private and public investment in the region in the next decade.
The plan includes preliminary flagship initiatives to strengthen resilience, build prosperity and increase trade and investment to support competitiveness and inclusive growth.