The strategy is intended to support EU border regions affected by Russia's war with Ukraine. They appealed for such support, among others: marshals of eastern voivodeships in Poland, who argued in Brussels in December that without special support it would be difficult to attract investments to their regions and, consequently, avoid their depopulation.
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Loans from EastInvest for eastern regions of the EU
In the strategy adopted on Wednesday, the EC announced: facilitating access to finance by creating the EastInvest instrument, which is intended to help interested countries access credit and advisory support. The idea is to create an investment platform with the participation of the EIB, as well as several national and regional promotional banks.
Budget Commissioner Piotr Serafin told reporters that credit support will reach EUR 28 billion. He emphasized that the assistance from the EC will also cover the introduction of changes in the rules for granting public aid, which will be beneficial for the eastern regions, as well as the relaxation of environmental requirements.
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“It is obvious that public support for private investments in these regions should be higher,” said the Polish commissioner.
He also pointed out that investments implemented with European funds are subject to strict environmental requirements. “It seems that in these regions, in order to stimulate public investment, these requirements should be relaxed. And this is also included in this strategy,” he added.
In Piotr Serafin's opinion, European investments in the field of defense, including the SAFE defense loan program, are also of key importance for the success of these regions.
“Thanks to defense investments, we can increase Russia's deterrence and reduce fears that lead to reduced investment and depopulation.. This is particularly visible not only in the eastern regions of Poland, bordering with Russia and Belarus, but above all in the Baltic countries,” the commissioner noted.
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Billions from the EU. Which countries have a chance to make money?
The strategy covers nine Member States. Apart from Poland these are also: Finland, Estonia, Latvia, Lithuania, Slovakia, Hungary, Romania and Bulgaria. The EC emphasized that the challenges of the border regions in these countries differ depending on whether the region borders on Russia and Belarus, on Ukraine, or, like Bulgaria, on the Black Sea.
Looking at the economic potential of the eastern regions, The EC drew attention to opportunities in the biotechnology industry and renewable energy, as well as the forest sectorwhich, by using currently underutilized resources in a sustainable manner, has the potential to develop carbon capture or innovative biotechnology materials (e.g. bioplastics and polymers, fiber packaging, biotextiles, biochemicals and bioconstruction products).
