200 million euro in funding for the Neighbourhood Investment FacilityJune 7, 2016
Hat: The European Commission announced the 7th of June 2016 200 million euro for the Neighbourhood Investment Facility
Funding Scheme: 2016-06-07
Pgm2014 2020: Yes
The European Commission announced a 200 million euro contribution for the Neighbourhood Investments Facility. The goal is to mobilise over 2 billion euro of investments in the EU’s Southern and Eastern Countries.
The European Commission announced the 7th of June 2016 200 million euro for the Neighbourhood Investment Facility (NIF). The NIF is an instrument which combines EU grants with other financial resources from the public and private sectors. Therefore, this allows leveraging additional loans. With this 200 million euro contribution from its part, the EC hopes to allow the mobilisation of 2 billion euro in investments for critical infrastructures covering transport, energy and environment, as well as the development of social and private sectors in neighbourhood partner countries east and south of the EU’s borders.
Johannes Hahn, Commissioner for European Neighbourhood Policy and enlargement Negotiations, said that this funding will help partner countries carry out essential investments. Without the EU help this investments would be postponed, in reason of the lack of resources at the risk of hampering economic.
Url description: Press room - European Commission