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European Commission adopts support package for Iran, with a focus on the private sector

23.08.2018, 20:30 3685
The European Commission today adopted a first package of 18 million euros for projects in support of sustainable economic and social development in the Islamic Republic of Iran, including 8 million euros assistance to the private sector, Commission's media office reports.

Today's projects are the first of a wider package of 50 million euros 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).

High Representative/Vice-President Federica Mogherini said: "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".

Besides, 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 Organization.

As part of the 18 million euros, the Commission will also provide technical support in the area of environmental challenges for 8 million euros and support drug harm reduction for 2 million euros.

The projects will be implemented by the International Trade Centre, EU Member State agencies, and other organizations in close cooperation with Iranian counterparts.

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