CBC MED is part of the new European Neighbourhood Policy and of its financing instrument (ENPI) for the 2007-2013 period. It includes the European Union and 14 partner countries, and its objective is to promote harmonious and sustainable cooperation in the Mediterranean, to face common challenges together, and to leverage the potential of each of the 76 participating regions. ''The EU looks with great hope to the changes taking place in the Maghreb and the Mashrek,'' Dassu said. ''But there is also a strong concern as to political instability due to the economic repercussions stemming from this awakening of the Arab peoples.'' Europe is also in trouble, and reinforcing the Euro-Mediterranean partnership is critical in order to face the crisis, the undersecretary said.
''Italy supports the 22% increase in funds for EU Neighborhood policies, bringing them to 18.1 billion euros for 2014-2020,'' Dassu said, adding that Italy needs to take a prominent role in the region-wide changes that are taking place. ''Libya should be involved in the CBC MED program as well,'' Dassu said.