Brussels, 14/12/2010 (Agence Europe) - On Monday 13 December, the European Investment Bank (EIB) launched the Eastern Partnership Technical Assistance Trust Fund (EPTATF) at the first meeting of the fund's contributors' committee.
The EPTATF is focused on increasing the quality and development impact of EIB Eastern Partnership operations by offering a multi-purpose, multi-sectoral funding facility for technical assistance. This will speed up and ensure more successful project implementation in Eastern Partnership countries and will be complementary to the Neighbourhood Investment Facility (NIF).
EIB Vice-President Eva Srejber, responsible inter alia for EIB lending operations in the EU's eastern neighbour countries, stated: “It is a priority of the EIB to help implement projects that are significant for both the European Union and the Eastern Partnership countries. The technical assistance initiative launched today will enable the Bank to better share its professional expertise in the areas of project preparation and financing with our partners for mutual benefit”.
The EPTATF will help to elaborate pre-feasibility and feasibility studies, institutional and legal appraisals, environmental and social impact assessments, project management and borrower support throughout the project implementation process, as well as financing upstream studies and horizontal institutional activities.
The EPTATF will be governed by a contributors' committee that will meet at least once a year. Contributions could be provided by member states of the European Union, the European Commission, beneficiary countries and interested third parties. The Fund will be administered by the EIB on behalf of the contributors. (O.L./transl.jl)