Meeting of donors and states with early transitional period is taking place in London

The seven poorest countries united by the European Bank for Reconstruction and Development (EBRD) in the framework of the Initiative of the States with Early Transitional Period (SETP) achieved the growth of the annual investing by over two times thanks to the double increase of the donor’s assistance to the projects aimed at increase of economic development, the EBRD official report says, according to Trend.

The number of agreements signed grew from 18 in 2003 to 38 for 9 months of 2005.

During the London meeting with SETP on 10 November the donors have been informed that the support from the investors for implementation of the technical assistance projects in Azerbaijan, Georgia, Armenia, Kirgiziya, Moldova, Tadjikistan and Uzbekistan enhanced from 8 million euro in 2003 to 16 million by the end of the III quarter of 2005. These donors’ funds are the reason for the extending of investments by EBRD to SETP, and this index grew from 53 million euro in 2003 to 192 million euro on the results of the III quarter of 2005.

The basic goal of the initiative is activation of efforts for assisting the transitional process from the centralized planned economy to the market one.

The EBRD president Jan Lemier voiced gratitude to national governments for the support of these initiatives, noting the importance of this technical assistance. The donors’ fund consists of such countries, as Canada, Finland, Ireland, Japan, Norway, Luxemburg, Holland, Spain, Sweden, Switzerland, Taiwan and Great Britain.

Lemier said, the donors’ funds are used for the technical assistance, transfer of skills and experience. However, the main objective is investments and increase of employment.

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