European Neighbourhood Policy to be consolidated by supporting political and economic reforms of EU neighbours

The European Commission will contribute to the promotion of peace, economic stability and prosperity in the EU neighbouring countries. “We must face the challenges concerning promotion of peace, economic stability and prosperity of our neighbours. There is no better method to achieve these goals than to support their political and economic reforms”, Benita Ferrero-Waldner, European Commissioner for External Relations and European Neighbourhood, stated in Brussels on Monday December 4, while presenting a new report on Consolidation of European Neighbourhood Policy (ENP). The new objective aims at increasing the policy’s impact and proposes methods thanks to which the EU can help partners willing to perform reforms rapidly and qualitatively, as well as offers motivations to those hesitating. Ferrero-Waldner stated that ENP of the EU will have in the future a more clear-cut delineation, providing a focus for the key fields of common interest, as the contacts from people to people, deepening of trade relations, a better cooperation in the field of energy, migration and issues regarding the visa regime, as well as for the financial support. With a view to maximizing the impact and influence of EU financing towards the ENP countries, as part of the budget for 2007-2013 worth EUR 12 bln, the European Commission will propose the creation of an Investment Fund of the Neighbourhood, to which the member states will be invited to contribute and that will increase the influence of the additional loans on the part of the European Investment Bank, European Bank for Reconstruction and Development etc. The contribution to this Fund coming from EU Budget will constitute EUR 700 mln. It is expected that this Fund will encourage the granting of loans, which will exceed the non-refundable financing several times. At the same time, an allotment of EUR 300 mln will be granted to a Facility for the Government to provide additional assistances that come to complete the allotments per country and support the activity of the partner-countries that made the greatest progress in implementing the Plan of Actions.