Neighbourhood states get additional investment funding
Friday 06 July 2012
Eastern and Southern Neighbourhood countries will receive an additional €150 million through the Neighbourhood Investment Facility (NIF) for road building, climate change, energy and business-related projects, announced the European Commission, on 6 July. NIF was launched in 2008 with €700 million foreseen for the period of 2008-2013, out of which €395 million have been already allocated. The EU budget contribution is complemented by pledged contributions from 15 member states, which totalled €70 million in 2011. Projects funded in 2011 included rehabilitation of a highway in Georgia, promotion of energy efficiency in Moldova and extension of the metro system in Cairo. ”NIF helps our partners to make a difference in areas where it is needed most, like energy, transport, the environment or the social sector,” commented Enlargement Commissioner Stefan Füle. To date, €4.3 billion have been invested in 52 projects supported by the NIF, including a climate change component added to the programme in 2011.