European Investment Bank sets neighborhood-related fund for southern and eastern countries

The European Investment Bank (EIB) created a fiduciary fund to get money for key infrastructure projects, especially in the area of energy, transports and environment, writes the Tunisian publication webmanagercenter.com. Deputy president of EIB Fontaine Vive stated that the bank already registered the first benevolent transfers from EU member-states, which amount to 18 million euros. “In 2008, the list of projects that will be financed included 6 common projects worth 1.6 billion euros for the southern neighbors (Egypt, Morocco, Tunisia) and 13 projects worth 1.2 billion euros for the eastern countries (Georgia, Moldova, Ukraine),” the official said. 60% of the money of this fund will be used in projects co-financed by European institutions, the European Bank for Reconstructions and Development (EBRD) and by the World Bank Group.