EU- Syrian banking cooperation Miro meeting
Syria-European Union, Economics, 5/24/2003

Syrian Prime Minister Mohammed Mustafa Miro received in Damascus on Thursday Deputy Chairman of the EU Investment Bank Council and an accompanying delegation.

The meeting dealt with the standing relations of cooperation between Syria and the European Union and means of boosting them in all domains.

The meeting also dealt with the role of the Bank in financing development, investment and transportation projects in Syria.

Miro stressed the importance of expanding the base of cooperation between Syria and the EU, exchanging the experts and widening prospects of cooperation within the framework of carrying out development programs in Syria.

Later on, Minister of Transportation Makram Obied and Fontaine signed an agreement of a loan financing Tartous port developing project.

The agreement stipulates offering a 50 million Euro loan over the next 20 years.

The project aims at developing and modernizing the port and its installations as well as rehabilitating the infra structure of the port.

The two sides also held a press conference during which they stressed the importance of this project in developing the Syrian exports and imports due to Syria's important geographic position.

Obied pointed out that this is the first contract to be signed and there are other projects being discussed now with the Bank.

For his part, Fontaine stressed the EU's interest in developing the technical and economic cooperation with the states of the region expressing hope in signing new loan agreements with Syria.

Previous Stories:
  EIB loans Syria 50 million for Tartous port   (5/21/2003)
  The practice of lending to developing and underdeveloped governments should end   (5/25/2002)

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