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EUROPEAN COMMISSION APPROVED NEW EU FUNDING IN FRAMES OF EUROPEAN NEIGHBORHOOD POLICY
19:24, 18 March, 2013
YEREVAN, MARCH 18, ARMENPRESS: Energy and transport sectors in the
countries of the Eastern and Southern Neighborhood will be a key focus
of new EU funding approved today by the European Commission. The
Commission decided to allocate EUR 200 million to the Neighborhood
Investment Facility with the objective of leveraging investments from
EU development banks. As reports Armenpress, referring to the statement
of European Commission, combining the EU grants with the loans from
the development banks will allow more competitive financing structures
for many large projects in the countries of the Eastern and Southern
Neighborhood. The planned investments will target energy and transport
projects establishing infrastructure interconnections between the EU
and neighboring countries and among neighboring countries themselves,
as well as projects addressing common climate change challenges and
promoting growth and small businesses.
"Since its launch in 2008, the Neighborhood Investment Facility has
proven to be a vital tool for EU cooperation in the Neighborhood
region. It helps our partners to make a difference in the areas where
it is needed most, like energy, transport, the environment or the
social sector. It also helps generate additional financial resources
and to deliver on concrete projects. By leveraging funds from other
institutions, it maximizes the added value of EU grants", said Å tefan
Fule, Commissioner for Enlargement and European Neighborhood Policy.
The Neighborhood Investment Facility brings together grants from the
European Commission and the EU Member States with loans from European
public finance institutions, as well as contributions from the partner
countries. It helps to support the EU's neighbors in carrying out
necessary infrastructure projects.
Projects funded in 2012 covered a wide range of initiatives and
sectors, among others, a small and medium-sized enterprises (SME)
Guarantee Facility in the Southern Neighborhood, the modernization
of border crossing points in Armenia, support for the electrical
transport network in Morocco as well as for a Green for Growth Fund,
which will provide refinancing via local financial institutions for
investments in energy efficiency and renewable energies to SMEs and
households in the Eastern Neighborhood countries.
The Neighborhood Investment Facility (NIF) was officially launched in
May 2008 in order to strengthen overall EU grant support for lending
operations carried out by European multilateral and bilateral
development finance institutions in the European Neighborhood
countries.
Up until now, the NIF has supported 69 projects representing a total
investment of about â~B¬18,4 billion.
â~B¬745 million have been foreseen for the period of 2007-2013, out
of which â~B¬545 million have been already allocated. Today's new
allocation amounts to an additional â~B¬200 million. The EU Budget
contribution is complemented by pledged contributions from 15 Member
States, which reached â~B¬70 million in 2011.
19:24, 18 March, 2013
YEREVAN, MARCH 18, ARMENPRESS: Energy and transport sectors in the
countries of the Eastern and Southern Neighborhood will be a key focus
of new EU funding approved today by the European Commission. The
Commission decided to allocate EUR 200 million to the Neighborhood
Investment Facility with the objective of leveraging investments from
EU development banks. As reports Armenpress, referring to the statement
of European Commission, combining the EU grants with the loans from
the development banks will allow more competitive financing structures
for many large projects in the countries of the Eastern and Southern
Neighborhood. The planned investments will target energy and transport
projects establishing infrastructure interconnections between the EU
and neighboring countries and among neighboring countries themselves,
as well as projects addressing common climate change challenges and
promoting growth and small businesses.
"Since its launch in 2008, the Neighborhood Investment Facility has
proven to be a vital tool for EU cooperation in the Neighborhood
region. It helps our partners to make a difference in the areas where
it is needed most, like energy, transport, the environment or the
social sector. It also helps generate additional financial resources
and to deliver on concrete projects. By leveraging funds from other
institutions, it maximizes the added value of EU grants", said Å tefan
Fule, Commissioner for Enlargement and European Neighborhood Policy.
The Neighborhood Investment Facility brings together grants from the
European Commission and the EU Member States with loans from European
public finance institutions, as well as contributions from the partner
countries. It helps to support the EU's neighbors in carrying out
necessary infrastructure projects.
Projects funded in 2012 covered a wide range of initiatives and
sectors, among others, a small and medium-sized enterprises (SME)
Guarantee Facility in the Southern Neighborhood, the modernization
of border crossing points in Armenia, support for the electrical
transport network in Morocco as well as for a Green for Growth Fund,
which will provide refinancing via local financial institutions for
investments in energy efficiency and renewable energies to SMEs and
households in the Eastern Neighborhood countries.
The Neighborhood Investment Facility (NIF) was officially launched in
May 2008 in order to strengthen overall EU grant support for lending
operations carried out by European multilateral and bilateral
development finance institutions in the European Neighborhood
countries.
Up until now, the NIF has supported 69 projects representing a total
investment of about â~B¬18,4 billion.
â~B¬745 million have been foreseen for the period of 2007-2013, out
of which â~B¬545 million have been already allocated. Today's new
allocation amounts to an additional â~B¬200 million. The EU Budget
contribution is complemented by pledged contributions from 15 Member
States, which reached â~B¬70 million in 2011.