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11:11 24 November
10:27 24 November
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EIB allocates $8B to projects in Eastern Partnership countries


The European Investment Bank supports infrastructure and environmental projects in Eastern Partnership countries from Lviv to Baku, said Vazil Hudak, Vice-President of the European Investment Bank (EIB).

 

He made the remarks during the 4th Eastern Partnership Business Forum Digital Economy: Innovative Platform for Transparent Borderless Business that kicked off in Tallinn on Oct 26.

 

He noted that up to now, the EIB has allocated $8 billion to projects in Eastern Partnership countries.

 

It is a big figure, he said, adding that teh EIB also focuses on the development of digital economy.

 

Hudak further noted that it is important that young people in Eastern Partnership countries wouldn't move to attractive countries in terms of business development and stay in their countries.

 

Addressing the forum, the European Commissioner for European Neighborhood Policy and Enlargement Negotiations, Johannes Hahn, underscored the need to support the economy of EaP countries. “To this end, there is a need for a political and economic environment, an independent judiciary and banking system,” he said.

 

Hahn said this created conditions for involving investment to the country and create new jobs, adding that Georgia and Belarus are among the main reformers of this year. 

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