The initiative targets eastern border regions facing reduced investment, falling populations and disrupted cross-border activity, the commission said. The nine member states named in the plan are Finland, Estonia, Latvia, Lithuania, Poland, Slovakia, Hungary, Romania and Bulgaria.
At the center of the strategy is EastInvest, a facility designed to disburse EUR 28 billion in loans, in cooperation with the European Investment Bank and the World Bank, to revive investment and business activity in affected areas.
“This Communication has been developed together with the territories and their communities to ensure they remain vibrant places to live, work, grow, and stay competitive,” said Raffaele Fitto, the commission’s executive vice president for cohesion and reforms.
The broader package also includes the European Drone Wall Initiative to strengthen border security, support to integrate Baltic electricity networks into the wider European grid, and education and employment programs aimed at addressing population decline in border regions.
The commission has not yet determined how funds will be allocated among member states. EU officials are expected to meet representatives of the countries at an EastInvest event scheduled for the end of February.
The strategy comes as the Baltic states and Poland have reinforced their eastern borders in response to hybrid tactics by Russia and Belarus, including the facilitated movement of migrants across EU frontiers to destabilize member states.
(jh)
Source: Euronews