EU's neighborhood investments (NIF) going well

from the EU's Rapid releases (1/23)

The European Union actively supports investments for infrastructure projects in the EU's neighbourhood
Brussels 23 Jan 2009

"After only a year of activity, the Neighbourhood Investment Facility (NIF) has already produced impressive results on the ground and has contributed to mobilising important funding for infrastructure projects in the neighbourhood region of the European Union. The € 71 million of grants provided by the NIF in 2008 underpinned projects worth around € 2.7 billion, of which € 1.6 billion come from loans provided by the European Public Finance Institutions, such as the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), the Council of Europe Development Bank (CEB), the Agence Française de Développement (AFD) and the Kreditanstalt für Wiederaufbau (KfW).

"Together with the Member States, we brought a real answer to the demand for concrete actions linking the EU and its Southern and Eastern neighbours more closely together. The Neighbourhood Investment Facility leverages the financing of key infrastructure projects which bring tangible and visible results for the citizens in our neighbourhood, ranging from the renovation of a hospital in Moldova to the construction of renewable energy power plants in Egypt. This shows that the EU is serious about drawing its partners closer", said Benita Ferrero-Waldner, European Commissioner for External Relations and European Neighbourhood Policy (ENP).

The Neighbourhood Investment Facility is a key instrument of the European Neighbourhood Policy. In 2008, the NIF has funded among others projects like the renovation of a hospital and the rehabilitation of roads facilitating communication and trade in the Republic of Moldova, the building of renewable energy power plants in Egypt addressing our common clean energy priorities and environmental concerns or the construction of transmission lines in Georgia improving energy interconnectivity and security. In total, fifteen projects were supported by the NIF in 2008, in countries such as Armenia, Azerbaijan, Georgia, the Republic of Moldova, Ukraine, Egypt, Morocco and Tunisia." ...

for the complete release