May 19, 2013, 23:44:14

Commission allocates more money for NIF

The European Commission has allocated additional funds for the Neighbourhood Investment Facility (NIF) for projects in areas such as road building, climate change, energy or supporting businesses in countries of the Eastern and Southern Neighbourhood.

The NIF gathers grants from the Commission and the EU countries with loans from European public finance institutions, as well as contributions from the partner countries.

Enlargement and European Neighbourhood Policy Commissioner, Štefan Füle, praised the Neighbourhood Investment Facility as "a vital tool in EU cooperation in the Neighbourhood region”. “It helps our partners to make a difference in the areas where it is needed most, like energy, transport, the environment or the social sector,” he said

Projects funded in 2011 covered a wide range of initiatives and sectors from rehabilitation of highways to promotion of energy efficiency, or extension of metro systems. Also, the NIF helped establishement of the European Neighbourhood Fund 'SANAD', which means 'support' in Arabic and which helps micro, small and medium enterprises in the Southern Neighbourhood.

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