STABILITY PACT EXPECTS EUR 2400 M FROM DONORS

Business | October 17, 2001, Wednesday // 00:00

`Bulgaria will be apportioned financing for its infrastructure projects in proportion to its population at the donors` conference of the countries participating in the Stability Pact for Southeastern Europe. The conference is going to be held in Bucharest on October 25 and October 26. One of the projects that will be certainly funded is the construction of a second bridge across the Danube river,` Stability Pact Special Coordinator Bodo Hombach said at the Fourth Euro-Atlantic conference, which opened in Sofia within the framework of the Southeast Europe Economic Forum on October 17. As far as the energy industry is concerned, the Pact will give priority to the funding of power transmission networks. Funds will be provided for joint projects that Bulgaria will carry out with Albania and Macedonia. `Due to the events in Macedonia, direct investments in the region were less than the envisaged by the World Bank EUR 4,000 M,` Hombach said. Actual investments amount to EUR 3,100 M. On the other hand, however, the international community admits that the conflict in Macedonia comes to prove that the Balkan countries now can cope with local tensions alone. `Regional cooperation represents the Europeanization of the Balkans,` Hombach said. Hombach expects 50% of the EUR 2,400 M that the donors promised in March last year are designed for infrastructure projects, Hombach recalled. According to him, one-third of that amount has already been allocated to the construction sites. He expressed hope that the conference in Bucharest would produce the same, if not better, financial result.
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