EU Extra funding for the Neighbourhood Investment Facility in 2012

The Neighbourhood Investment Facility will get additional funding of €150 million in 2012. The European Commission announced that the extra funding will go towards helping countries in the Eastern and Southern Neighbourhood in areas such as road building, climate change, energy or supporting businesses.

The European Commission announced a new allocation worth of €150 million to the Neighbourhood Investment Facility in 2012. €700 million have already been foreseen for the period of 2007-2013, out of which €395 million have been already allocated. According to the Commission, this facility brings together grants from the European Commission and the EU Member States with loans from European public finance institutions, as well as contributions from the partner countries.

The Neighbourhood Investment Facility was officially launched in May 2008 in order to strengthen overall EU grant support for lending operations carried out by European multilateral and bilateral development finance institutions in the European Neighbourhood countries. Stefan Füle, Commissioner for Enlargement and European Neighbourhood Policy, underlined that since its launch in 2008, the Neighbourhood Investment Facility has proven to be a vital tool in EU cooperation in the Neighbourhood region.

To date, the NIF has supported 52 projects representing a total investment cost of about €4.3 billion. Projects funded in 2011 covered a wide range of initiatives and sectors, for instance: rehabilitation of a highway in Georgia, promotion of energy efficiency in the Republic of Moldova, or extension of the metro system in Cairo. Moreover, since 2011, the NIF has also included a Climate Change Window to support partner countries' projects in tackling climate change.