BRUSSELS, Aug. 23 (Xinhua) -- The European Commission on Thursday adopted a support package for Iran, with a focus on the private sector for the sustainable economic and social development.
The package includes 18 million euros worth of projects (8-million-euro assistance to the private sector).
These 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.
"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," said EU Foreign Policy chief Federica Mogherini.
The support is the renewed cooperation and engagement between the EU and Iran following the conclusion of the Joint Comprehensive Plan of Action (JCPOA), or the Iran nuclear deal, in 2015.
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 Organisation.
The Commission will also provide technical support in the area of environmental challenges and support drug harm reduction.
The projects will be implemented by the International Trade Centre, EU Member State agencies, and other organisations in close cooperation with Iranian counterparts.
