Semed Project

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(Acronym, Southeast Mediterranean Development): A project for the coordinated development of the Southeast Mediterranean, initiated by Israel, Egypt and the Palestinian Authority, with the assistance of the European Union. Its purpose is to foster regional economic cooperation in the SEMED area, a coastal strip running from East of Lake Bardawil, through the Gaza Strip, up to and including Ashdod. A workshop was held in Cairo in 1995 to create a common vision for development of the area. Plans have focused on specific short- and medium-term projects that will attract private investors and create jobs, and have placed emphasis on development of the Gaza Strip to bring its facilities and standards in line with those of the other partners.