EuroCommission to allocate € 70 million for ENP investment projects

PanARMENIAN.Net - By the end of 2009, EuroCommission will allocate € 70 million to key investment programs implemented within ENP frameworks. The allocations will help ENP member states to increase funding of main investment projects in such spheres as energy, transport, environment and social sector.



Benita Ferrero-Waldner, European Commissioner for External Relations and European Neighborhood, expressed satisfaction with INP's positive results.



"This year, INP's increased funding obliges us to support neighboring countries' reforms in key sectors. I am very happy that during the first year of its existence, INP approved 15 projects aimed at enhancing such basic segments of population's life as water, health and urban transport," she said.



Officially launched in May 2008, INP was elaborated upon the initiative of Ferrero-Waldner. The project aimed to intensify grant support to European Union and counties involved in operations implemented by European financial institutions in ENP member states.



INP's activities apply to countries that have signed ENP Action Plan. Those countries are Azerbaijan, Georgia, Ukraine, Moldova, Jordan, Palestine, Lebanon, Morocco, Egypt, Tunisia and Armenia.



EuroCommission has already allocated € 170 million, out of the total sum of € 700 envisaged for 2007-13 (€ 50 million was allocated in 2007 and 2008, and € 70 million was allocated this year), Commission's press service reports.