EU Neighborhood Investment Facility grants hit record €142.3 mln in 2011

PanARMENIAN.Net - The EU’s Neighborhood Investment Facility (NIF) last year approved grant contributions in the Eastern and Southern Neighborhood rising to a record €142.3 million, leveraging total new investments of about €4.3 billion, according to the newly-released NIF 2011 report, ENPI Info Center said.

According to European Commissioner for Enlargement and Neighborhood Policy Štefan Füle, 2011 had been "a test year for our cooperation with the Neighborhood region, full of historical moments and challenges". He said that the EU had stepped up its response to assist the democratic transition in the wake of the Arab Spring.

According to the Commissioner, since 2008, the NIF has supported 52 projects across the Neighbourhood region, representing a total investment cost of around €14 billion.

Nine projects in the Southern region were approved in 2011 for a total NIF contribution of €91.3 million (64%), compared to six projects in the Eastern region approved for a total NIF contribution of €51 million (36%). Seven countries (Armenia, Egypt, Georgia, Morocco, Republic of Moldova, Tunisia, Ukraine) directly benefited from a NIF grant last year, while substantial support was provided to regional1 projects in the South representing a total NIF contribution of €30 million.

Regarding the sectoral distribution of NIF grants, the bulk of support in 2011 was for infrastructure with a total of €112.3 million (79%) approved, while the remaining €30 million (21%) went to operations in support of private sector development. Within infrastructure, the sectors of transport and energy received most of NIF support (together 69%), while 10% were allocated to water and sanitation projects.