- Title
- Support for new investment in South Eastern Europe
- Long Title
- EIB to support new investment in South Eastern Europe
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- Summary
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The European Investment Bank will be the main source of finance to support new investment in infrastructure in South Eastern Europe, as indicated at the Second Regional Conference of the Stability Pact for South Eastern Europe, held in Bucharest on 25-26 October 2001. The Bank will provide loans for additional projects to upgrade and extend infrastructure in transport, energy and environment. The provisional list of some 30 projects was agreed by the Infrastructure Steering Group (European Commission, European Investment Bank, World Bank, European Bank for Reconstruction and Development, Council of Europe). The estimated total cost will be of EUR 2.4 billion, one third of which will be financed by the EIB. The Bank will be the lead financier in some 8 projects and will co-finance additional 5 projects.
Regional projects with financing plan secured or under finalisation by Sector
Title:
Sector:
To be implemented in:
Main Financier
Cost: M EUR
Road Maintenance Project
Transport/Roads
Albania
WB
42.4
Port of Durres rehabilitation and modernisation
Transport/Ports and Waterways
Albania
EIB/WB
45.0
Power Distribution Rehabilitation (related to Power Sector Reconstruction Project)
Energy/Electricity
Albania
EBRD (cof EIB)
217.3
Main roads and bridges rehabilitation
Transport/Roads
Bosnia and Herzegovina
EIB
120.0
Railways Recovery Project
Transport/Railways
Bosnia and Herzegovina
EIB/EBRD
80.0
3rd Electric Power (transmission)
Energy/Electricity
Bosnia and Herzegovina
WB (cof EIB)
103.0
Danube Bridge Vidin-Calafat
Transport/Roads
Bulgaria
EIB
180.0
Transit Roads Rehabilitation Project III - sections on the Pan-European Transport Corridors in Bulgaria
Transport/Roads
Bulgaria
EC
40.0
Reconstruction and Electrification of the Plovdiv-Svilengrad-Greek/Turkish border railway line for speeds 160 (200) km/h
Transport/Railways
Bulgaria
EIB
170.0
Autocesta Rijeka-Zagreb
Transport/Roads
Croatia
EBRD
100.0
Network Reconstruction Project II
Energy/Electricity
Croatia
EIB/EBRD
103.9
Zagreb Wastewater Treatment Plant
Water and Environment/Water Waste
Croatia
EBRD
104.5
Transport Rehabilitation
Transport/Roads
Federal Republic of Yugoslavia (Serbia/Montenegro)
EIB
132.0
Yugoslav Railways Reconstruction Project (Serbian/Montenegrin)
Transport/Railways
Federal Republic of Yugoslavia (Serbia/Montenegro)
EBRD (cof EIB)
160.0
Emergency Power Sector Reconstruction Project
Energy/Electricity
Federal Republic of Yugoslavia (Serbia/Montenegro)
EBRD
135.9
Skopje Bypass
Transport/Roads
Former Yugoslav Republic of Macedonia
EIB/EBRD
50.0
Finalising the upgrading of the E 75 road (Corridor X), section Negotino - Demir Kapija (Phase III)
Transport/Roads
Former Yugoslav Republic of Macedonia
EC
11.0
Drumul M3 Chisinau-Cimislia-Comrat-Vulcanesti-Giurgiulesti (Romania)
Transport/Roads
Moldova
WB
33.0
Trade and Transport Facilitation in Southeast Europe (TTFSE)
Transport/Roads
Moldova
WB
9.9
Road Sector Restructuring and Pitesti By-pass Project, Romania
Transport/Roads
Romania
EBRD
116.0
Rehabilitation of the Craiova-Drobeta Turnu Severin section of Highway 6 (Corridor IV)
Transport/Roads
Romania
EC
117.0
National Grid Reinforcement
Energy/Electricity
Romania
EBRD (cof EIB)
230.0
Municipal Environmental Loan Facility, Constanta
Water and Environment/Environment
Romania
EBRD
100.4
Border Crossings between Bulgaria and Romania
Transport/Roads
Region
EC
13.0
Border Crossings between Croatia and Slovenia, and Croatia and FR Yugoslavia
Transport/Roads
Region
EC
7.8
Border Crossings between BiH and Croatia, and BiH and FR Yugoslavia
Transport/Roads
Region
EC
7.5
Border Crossing at HORGOS on Corridor X, between Belgrade and Budapest
Transport/Roads
Region
EC (cof EIB)
5.0
Number of projects selected / Cost in M EUR
27
2434.6
Number and total cost of projects selected with EIB financing in M EUR
13
1531.0
Total EIB financing toward indicated projects in M EUR 705
The EIB aims to attract private investors to the region. For this purpose it will provide global loans for the banking sector to on-lend to small and medium-sized companies and infrastructure. Two global loans have already been concluded in Macedonia and Croatia. In the future the Bank will consider providing finance for investment to strengthen human capital. The current EIB reflection on ways to accelerate investment in response to the economic slow-down will encompass the countries of South Eastern Europe, along with the EU and candidate countries.
The EIB will build on the successful completion of the Quick-Start Package of Infrastructure Projects and Studies decided at the First Regional Conference in March 2000. In this context the Bank was given leadership over 11 projects and 3 studies. The Bank has so far provided EUR 494 million for 9 projects and expects to close soon negotiations for the 2 remaining. In close coordination with the European Commission it has supported 2 regional studies on regional transport infrastructure and on regional air traffic infrastructure. A third study on environmental management will to be launched shortly.
The European Investment Bank finances capital investment projects which further the European Union (EU) policy objectives. It also participates in the implementation of the EU's co-operation policy towards third countries. In South-East Europe, the EIB operates under the Mandate for Central and Eastern Europe agreed by the Council of Ministers. In the period 2000 to 2007the EIB will lend EUR 8.7 billion for investment in the region. The EIB plays an active role in the preparation of the reconstruction investment programme, in cooperation with the European Commission and the other multilateral financing institutions. The first group of infrastructure projects comprised 85 projects totalling EUR 4 billion. 35 projects are Quick-Start totalling EUR 1.1 billion. The EIB played a lead role in 14 projects, totalling some EUR 800 million.
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