The European Commission today adopted a first package of €18 million for projects in support of sustainable economic and social development in Iran, including €8 million assistance to the private sector. The announcement was made in a press release by European Commission on Thursday. According to the report, today’s projects are the first of a wider package […]
The European Commission today adopted a first package of €18 million for projects in support of sustainable economic and social development in Iran, including €8 million assistance to the private sector.
The announcement was made in a press release by European Commission on Thursday.
According to the report, today’s projects are the first of a wider package of €50 million for Iran, aiming to support the country to address key economic and social challenges. They are part of the renewed cooperation and engagement between the European Union and Iran following the conclusion of the Joint Comprehensive Plan of Action (JCPOA).
“Since the renewal of the EU-Iran relations as a result of the Iran nuclear deal, cooperation has developed in many sectors. We are committed to sustain it and this new package will widen economic and sectoral relations in areas that are of direct benefit to our citizens,” High Representative/Vice-President Federica Mogherini said.
Commissioner for International Cooperation and Development, Neven Mimica, said, “with these measures, the EU demonstrates its support to the Iranian people and their peaceful and sustainable development. It encourages stronger involvement of all actors in Iran and in particular the private sector.”
Activities supporting the private sector will include support to high-potential Iranian Small and Medium-sized Enterprises (SMEs), the development of selected value chains, and technical assistance to Iran’s Trade Promotion Organisation.
As part of the €18 million, the Commission will also provide technical support in the area of environmental challenges for €8 million and support drug harm reduction for €2 million, according to the press release.
The projects will be implemented by the International Trade Centre, EU Member State agencies, and other organisations in close cooperation with Iranian counterparts.
The move comes as US President Donald Trump withdrew from the 2015 Iran nuclear agreement on May 8, and reinstated sanctions, including extraterritorial ones, against Tehran. US’ unilateral and unlawful pullout from the nuclear agreement prompted the EU to come up with a package of proposals to encourage Iran to stay committed to the JCPOA despite US sanctions.
