The European Union announced a €42.5 billion ($46.4 billion) investment package for the Middle East and North Africa (MENA) starting in 2028, doubling its previous financial commitment to the region.
The funding will support renewable energy, border security, and new migration pathways, with the goal of fostering stability, cooperation, and shared prosperity across the Mediterranean.
At a press conference in Brussels, EU Commissioner for Democracy and Demography Dubravka Suica said the initiative reflects a strategic shift toward deeper partnerships with the EU’s southern neighbors.
“This is a strong financial toolbox that will help us invest in stability, security, and prosperity through mutually beneficial cooperation,” Suica said. She stressed that the Mediterranean is a region of both challenges and opportunities.
The program will also help address socio-economic fragility, which the EU says contributes to political instability and radicalization in the region.
A significant portion of the funds will be allocated to the green transition, focusing on renewable energy projects that will benefit communities on both sides of the Mediterranean.
Suica emphasized that the stability of the MENA region is directly tied to Europe’s own security. “Their safety is our safety. Their success is our shared success.”
The investment is part of the EU’s Multiannual Financial Framework, aimed at enhancing Europe’s global influence and protecting its strategic interests.