The European Commission has approved €18 million for sustainable economic and social development projects in Iran, including €8 million for the private sector, all of which are part of a larger package of €50 million earmarked for Tehran and aimed at helping the country cope with major economic and social challenges following the reimposition of stiff sanctions by the Donald J. Trump White House.
The EU’s foreign policy chief, Federica Mogherini, said that the two sides had developed a degree of cooperation that has developed across many sectors after a landmark nuclear deal was signed by both sides in 2015.
“We have committed ourselves to pursue it (cooperation) and this new package of measures will deepen economic and sectoral relations in areas that directly benefit our citizens,” said Mogherini. Neven Mimica, the European Commissioner for International Cooperation and Development, backed Mogherini’s point by saying “the EU is demonstrating its support for the people of Iran and its peaceful and sustainable development. in Iran, and more specifically the private sector, to become more engaged.”
The range of private sector activities in Iran is expected to include support for Iranian small and medium-sized enterprises that show growth potential and the development of selected value technical assistance to the Iranian Trade Promotion Organization.
As part of this €18 million support programme, the Commission will also provide technical assistance in the area of environmental challenges worth €8 million and support the prevention and reduction of the problems caused by climate change.