Global Arab Network | EU-funded project - 45 million euros for Algerian SMEs

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EU-funded project - 45 million euros for Algerian SMEs

Global Arab Network - - George Haddad

Monday, 28 September 2009 13:28

Forty-five million euros are being made available to Algerian businesses under the new phase of a an EU-funded programme to help the reach international levels of competitiveness, according to the latest article published by the Eurojar project.

The feature reports that the MEDA II programme for the support of Algerian SMEs, which came into force in May 2008 and will last until 2017, date of entry into force of the zone of free trade between the two parties, aims at upgrading small and medium sized enterprises in Algeria to international economic standards by improving their competitiveness, renewing their production tools and helping them adapt to new market conditions, particularly after the implementation of the Association Agreement with the European Union.

"After the 445 firms that benefited from MEDA I, the European Commission has set up a second upgrade programme of €45 million to support Algerian companies wishing to reach the international competitiveness level," explains Olivier Velp, European project leader of MEDA II.

The article zooms in on the success story of NCA Rouiba, a family-run canned products business, which became one of the leading companies in the Algerian food industry. The company was granted €200,000 under the first phase of the programme in addition to a funding contract, implemented by the EIB through the Facility for Euro-Mediterranean Investment and Partnership (FEMIP), allowing it to achieve its modernisation and growth programme.

Eurojar is one of 13 projects funded across the ENPI under EuropeAid’s €19 million Regional Information and Communication Programme, which seeks to increase awareness and understanding among the citizens of the area, about the EU, its policies and relations with their countries. The Eurojar budget amounts to €1.5 million and the project will last for one year. As well as l’Orient Le Jour, it publishes articles highlighting EU cooperation in Al-Hayat and Le Commerce du Levant, and broadcasts weekly reportages on LBCI and LBCSat.

Global Arab Network

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