The European Union and Algeria have signed three financing agreements on the protection of cultural heritage, support for reform in the transport sector and support for youth employment. These three agreements will be translated in grants for worth of a total of €58 million.

The European Commission announced that the European Union signed three financing agreements with Algeria – for grants worth a total €58 million – on the protection of cultural heritage, support for reform in the transport sector and support for youth employment. The High Representative and Commission's Vice President Catherine Ashton stressed that it is so crucial to support young people seeking employment and the EU cannot underestimate the importance of protecting our cultural heritage. In August 2012, the EU also allocated €34 million of EU funds to protect the environment in Algeria.

With regard to the grants for the protection of the cultural heritage, the programme will support priority actions for heritage identification through the creation of site inventories in twelve pilot Wilayas (administrative provinces). It will help heritage become a tool for economic and human development in Algeria. The 2nd Support programme will contribute to the implementation of the new transport strategy in Algeria. It will support the updating of relevant legislation and regulations, as well as the modernisation of the Ministry of Transport.

Youth Employment Support Programme was developed as part of the EU response to regional social and political events. Through this programme, the EU aims at supporting government and civil society efforts to fight youth unemployment and reinforce the role of young people in society. It will reinforce central and local institutional capacities and will finance NGO projects in support of the professional integration of young people.