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Lebanon & Syria: European Commission approves National Financing Plans

The European Commission has approved support for the National Financing Plans of Lebanon and Syria for 2002. A €12 million project is foreseen for Lebanon to support the implementation of the Association Agreement. € 6 million will be provided for industrial modernisation in Syria.

The Commission has decided to assist the Lebanese government in improving its capacity to meet the commitments under the EU-Lebanon Association Agreement signed in June 2002.

The Agreement aims to establish a free trade area between the EU and Lebanon. The project is designed to support government efforts to liberalise trade, improvement of the legislative and regulatory frameworks and the strengthening of institutions. Workshops will be held at the beginning of and throughout project implementation in order to define detailed activities and to identify beneficiaries and counterparts.

The Government of Syria has recognised the modernisation of its industrial sector as one of its major priorities. The Commission has agreed to support this process by providing €6 million for the preparatory phase of a programme to prepare the Syrian industrial sector for the challenges of increased economic competition.

The programme will focus on the development of a clear industrial strategy, policy advice and institutional capacity- building for the key public institutions in charge of industry.

These programmes have been identified in line with the priorities set in the respective Country Strategy Papers and the Meda programme.


National Financing Plans
The European Commission adopts National Financing Plans in co-ordination with the European Investment Bank and the Member States. The plans set out projects to be implemented during a 12-month period. These projects are chosen in the light of the relevant Country Strategy Paper, which sets priorities agreed by the country concerned for a 5 year period, and the National Indicative Programme, which outlines planned EC spending.

Brussels,11 25 2002
European Union Redaction
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