Press Release: The European Commission allocates €70 million for key investment projects in the EU’s Neighbourhood

The Neighbourhood Investment Facility (NIF), a key instrument of the intensified European Neighbourhood Policy (ENP), will benefit in 2009 from a €70 million contribution by the European Commission. These resources will allow neighbouring partner countries to leverage increased funding for major investment projects in areas such as energy, transport and environment, and also SME development and the social sector. The Commission provided, through the NIF, grant support for lending operations of European Development Finance institutions in these countries. Out of the €700 million that the Commission intends to allocate to the NIF for the period 2007-2013, €170 million was made available for the financing of eligible projects (€50 million approved in 2007, €50 million in 2008 and an additional €70 million this year).