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Europe Daily Bulletin No. 8845
Contents Publication in full By article 37 / 42
GENERAL NEWS / (eu) eu/eib/syria

Preparation of Syrian economy for liberalisation and opening up to market through EU

Luxembourg, 09/12/2004 (Agence Europe) The EIB and the Syrian Ministry of Finance have organised two conferences in Syria in cooperation with the Aleppo Chamber of Industry on Monday, the 6th of December in Aleppo, and with the Federation of the Syrian Chambers of Commerce, on Wednesday, the 8th of December in Damascus. On 3 November the EIB granted its largest ever loan to Syria on 3 November, which is not yet a signatory to the association agreement (it has already been initialled for investment and the partnership) for the funding of the building of an electricity plant. Accompanying the reform programmes of the Syrian economy and the opening up of its market, notably through the EU's FEMIP (Euro-Mediterranean Investment and Partnership Facility) for the funding of electricity plant constructions. Accompanying the Syrian economic market opening reform programme, via the EU, is the FEMIP technical assistance fund set up last June. the fund contains EUR 105 million in the form of non-reimbursable aid that is expected to provide technical assistance by the end of 2006 for starting up and developing (SME Fund), the initial support fund for the private sector in Syria. The EIB granted Syria EUR 50 million towards the port of Tartous in May 2003.

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