Economic Forum - Stability Pact.

16.10.2002 Source: BTA

Cooperation in infrastructure projects such as building of roads and of energy and information networks, and the creation of a free market lead to economic prosperity and lasting stability in Southeast Europe, said the participants in a plenary session on "The Southeast Europe Stability Pact" held within the economic forum which opened in Sofia on Tuesday. Deputy Stability Pact Coordinator John Riddle said that the Pact will continue to provide support to projects for integration of border areas, strengthening of institutions, democratization, as well as transport and energy projects. The participants in the discussion stressed the importance of creating a free trade area in Southeast Europe which is expected to channel investment and boost the economic and social development of the region. Within the Stability Pact's Worktable One "Human Rights and Democratization" Bulgaria proposed 50 projects for a total of 25 million euros. The country applied for funding for five infrastructure projects totalling 690 million euros during Worktable Two, "Economic Restoration, Cooperation and Development", Kassidova said. Worktable Two Coordinator Alexander Migiareses, of the Greek Foreign Ministry, said Greece grants 55 million euros under its plan for regional restoration.