Azerbaijan, Baku, April 4 / Trend A.Badalova/
The EU's Neighbourhood Investment Facility (NIF) approved grant contributions in the Eastern and Southern Neighbourhood rising to a record 142.3 million euros in 2011, leveraging total new investments of about 4.3 billion euros, according to the newly-released NIF 2011 report, ENPI Info Center reported.
According to European Commissioner for Enlargement and Neighbourhood Policy Štefan Füle, 2011 had been "a test year for our cooperation with the Neighbourhood region, full of historical moments and challenges". He said that the EU had stepped up its response to assist the democratic transition in the wake of the Arab Spring.
According to the Commissioner, since 2008, the NIF has supported 52 projects across the Neighbourhood region, representing a total investment cost of around 14 billion euros.
Last year nine projects in the Southern region were approved for a total NIF contribution of 91.3 million euros, compared to six projects in the Eastern region approved for a total NIF contribution of 51 million euros.
The bulk of NIF grants in 2011 was for infrastructure with a total of 112.3 million euros approved, while the remaining 30 million euros went to operations in support of private sector development.