European Commission announces €200 million in funding for the Neighbourhood Investment Facility to mobilise over €2 billion of investments in the EU's Southern and Eastern neighbourhood
The money will allow the mobilisation of €2 billion in investments for critical infrastructure covering transport, energy and environment, as well as the development of social and private sectors in neighbourhood partner countries east and south of the EU i's borders.
"Economic and social development is at the heart of the EU's support to help stabilise countries in our Neighbourhood. This funding will help partner countries carry out essential investments which would otherwise be postponed due to lack of resources at the risk of hampering economic development. It demonstrates the EU's continued commitment to accelerate investment and support inclusive development across the region, which in turn improves resilience of countries and also addresses root causes of migration," said Johannes Hahn i, Commissioner for European Neighbourhood Policy and Enlargement Negotiations.
The Neighbourhood Investment Facility (NIF) is an instrument which combines EU grants with financial resources from the public and private sectors, including loans and equity financing. This allows leveraging additional loans for the development of essential infrastructure as well as for social and private sector development, including specific support to SMEs. Between 2008 and 2014, 95 projects have received financial support through NIF, totalling over €1 billion and leveraging a combined funding volume of more than €25 billion.
More information on the Neighbourhood Investment Facility and projects financed in the region can be found at:
IP/16/2115
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