Brussels, 06/07/2012 (Agence Europe) - On 6 July, the European Commission announced that it was to grant an additional envelope of €150 million to the investment facility for the neighbourhood countries (NIF) in 2012. This additional funding will be allocated to projects on roadbuilding, climate change, energy and to support SMEs in the countries of the eastern and southern neighbourhood.
The NIF, which was officially launched in May 2008 to reinforce the EU's support to loan operations carried out by the financial institutions of the EU and multilateral operations in the neighbourhood countries, has so far been granted €700 million for the period 2007-2013, 395 million of which has already been allocated. The contribution of the EU budget is topped up by contributions announced by 15 member states, which reached a level of €70 million in 2011.
Projects funded by the NIF in 2011 covered a broad range of initiatives and sectors, such as modernising a motorway in Georgia, promoting energy efficiency in Moldova and extending the Metro system in Cairo, Egypt.
NIF operations focus on the countries of the eastern and southern neighbourhood, which have already signed an action plan with the EU. In future, other neighbour countries will also, on a case-by-case basis, be able to enjoy NIF funding, although projects must be of a cross-border or regional nature.
The NIF has so far supported 52 projects, with a total investment of 4.3 billion euros. (EH/transl.fl)