JEDDAH: From 2028, the EU will invest €42.5 billion ($46.4 billion) in border security, migrant routes, and renewable energy in the Middle East and North Africa. Under a new financing vehicle, this increased financial commitment seeks to improve regional stability and collaboration. The higher funding, according to EU Commissioner for Democracy and Demography Dubravka Suica, who spoke at a news conference in Brussels on July 17, indicates the bloc’s strategy move toward closer engagement with nations in the area.
She emphasized that the Mediterranean is a region of opportunities as well as challenges, saying, “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.” Suica said that the EU will help partner nations tackle the root causes of socioeconomic fragility, which she claimed are essential to radicalization and political instability.
In order to help people on both sides of the Mediterranean, she continued, the bloc would also invest in renewable energy projects to meet the difficulties of the green transition. The commissioner stated, “These additional funds will allow us to respond more effectively to an increasingly volatile geopolitical context right at our doorstep.” She emphasized that Europe’s stability and prosperity are closely related to those of the Mediterranean. “We are safe when they are safe. We all benefit from their achievement. We are also protected by their borders. According to Suica, the Multiannual Financial Framework is a tool that will fortify the union on the inside as well as the outside.
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