Brussels, 24/04/2015 (Agence Europe) - The European Commission has decided to increase its contribution to the Neighbourhood Investment Facility for 2015 by €295.04 million. This is expected to enable over €3 billion in investment.
The Neighbourhood Investment Facility aims to bring additional investments in transport, energy and environment infrastructure, and aims at the development of social and private sectors in Eastern and Southern neighbourhood partner countries. The instrument combines EU grants with other public and private sector financial resources, such as loans and equity.
In addition, the Commission has decided to allocate €85 million of Neighbourhood Investment Facility resources in the Eastern neighbourhood to help SMEs benefit from the opportunities offered by the free trade agreements signed with Georgia, Moldova and Ukraine, as well as stimulating female entrepreneurship in the Eastern neighbourhood. (Camille-Cerise Gessant)