International Development Banks Announced Plan To Restore Growth In Eastern Europe
The World Bank, European Investment Bank and European Bank for Reconstruction and Development announced investment plan of more than 30 billion euros to boost economic growth in central and southeastern Europe in year 2013 and 2014. The plan aims to recover economic growth in the region by supporting private and public sector initiatives, including infrastructure, corporate investment and the financial sector, as an earlier programme, which was worth 24.5 billion euros over two years, did for Central Europe, Results of that programm exceeded original targets. The EIB will provide 20 billion euros, mainly in long-term loans for the private and public sector, addressing priority areas such as small- and medium-sized businesses, renewable energy and energy efficiency and innovation. 6.5 billion euros will be provided from the World Bank and EBRD will help with 4.0 billion euros.
Funding will be available to Albania, Bosnia Herzegovina, Bulgaria, Czech Republic, Croatia, Estonia, FYR Macedonia, Hungary, Kosovo, Latvia, Lithuania, Montenegro, Poland, Romania, Serbia, Slovakia and Slovenia.