BRUSSELS, 10 February, 2021 (TON): As the EU seeks to strengthen the partnership between the EU and its southern neighboring partners; the European Commission has launched a new plan for the Mediterranean.  

The new agenda grounds that working together will tackle the common challenges and can be turned into opportunities, in the mutual interest of the EU and the neighbors, Commission said on Tuesday.

Up to 7 billion euros would be allocated to its implementation until 2027, which could mobilize up to 30 billion euros in private and public investment in the region in the next decade.

Oliver Varhelyi, the commissioner for neighborhood and enlargement told that the new plan includes a dedicated economic and investment plan to spur the long-term socio-economic recovery in the south of Europe.

He stated that it shows that Europe wants to contribute directly to a long-term vision of prosperity and stability of the region, especially in the social and economic recovery crisis.

The EU had identified a number of priority sectors, from creating growth and jobs, investing in human capital or good governance, he added.

The plan of the EU covers the five policy areas, human development, good governance, and the rule of law; resilience, prosperity, and digital transition in peace and security; migration and mobility and the green transition.