The Northern Dimension: Financing Infrastructure and Environmental Investment by Minister Sasi

Remarks by the Government of Finland delivered by Mr Kimmo Sasi, Minister for Foreign Trade Meeting of the Heads of the IFIs, the representatives of the European Commission and the governments of Sweden, Finland and Belgium at the Nordic Investment Bank (NIB) Helsinki 9 March 2001


Mr Chairman,
Ladies and Gentlemen,

I would like to thank the Swedish Presidency of the European Union, and the Nordic Investment Bank for paving the way for this important meeting centring on the financing infrastructure and environmental investment relating to the Northern Dimension.

Finland is pleased to note that Sweden has adopted the concept of Northern Dimension as one of the priorities during her Presidency. Finland strongly supports Sweden and the European Commission in their efforts to enhance the implementation of the Action Plan for the Northern Dimension.

The starting point regarding the Northern Dimension has been that we should use the existing Community instruments and the other actors involved in the implementation of the Action Plan. To make these instruments work in a coherent way, we will need good and efficient coordination. Therefore, Finland warmly welcomes the active involvement of the European Bank for Reconstruction and Development, the European Investment Bank, the World Bank Group, the Nordic Investment Bank and the Council of Europe Development Bank in sharing our common goal. In this coordination effort, I would also like to emphasize the role of the private sector in this endeavour together with the public sector.

In this respect, I would like to thank and welcome the initiative of the President of the EBRD, Mr. Jean Lemierre, to establish the Northern Dimension Environmental Partnership. Because of the wide membership of the EBRD, including all countries in the Baltic Sea region, its unique Environmental Mandate and wide experience in the region, Finland supports EBRD’s role in this effort, which will turn the ND policies into concrete action and projects. The Northern Dimension Environmental Partnership would indeed serve the purpose of the Action Plan and would effectively coordinate the best efforts of the participating institutions and donor countries. We believe this initiative deserves our serious attention. As the Nordic Investment Bank has a long and successful record in the efforts to come to grips with the environmental problems in the North of Europe, we feel that the bank should have a key role in the implementation of the initiative launched by the EBRD.

Through the membership of Russia in the EBRD, the coordination effort would support the EU’s strategy to integrate Russia into a common European economic and social area. In Estonia, Lithuania and Latvia, the EU’s strategy aims at furthering the enlargement process. The common effort, I believe, would pave the way for a smooth, efficient and interactive cooperation within all parties.

Together with the other EU-countries, Finland has actively participated in efforts to support the political and economic transition process in Central and Eastern Europe. According to Finland’s new strategy for cooperation in the neighbouring areas, our support is focused on the bordering areas in Russia as well as in Estonia, Latvia and Lithuania. Finland’s assistance programs are regarded as a national contribution to the Northern Dimension. In practice, half of the grant allocations are channelled through the International Financing Institutions. According to the independent evaluations, cooperation with the IFIs has proved beneficial to all parties. Based on this positive experience, Finland would like to continue and improve the cooperation.

Finland has found environmental cooperation successful during the recent years. There are, however, huge challenges to be confronted during the years to come. The proposed coordination within the IFIs, I believe, should play a central role in responding to these challenges.

Investment opportunities, which enhance the cooperation between private and public sectors, must not remain unnoticed. In this framework, I believe, the environmental industries should have an important role and a significant contribution to the economies of countries in the area of the Northern Dimension.

Mr Chairman,

On behalf of the Government of Finland I would, once more, like to extend my warmest thanks to the Swedish Presidency and NIB for having arranged this meeting.

The meeting itself shows a true commitment by all participants to enhancing the implementation of Northern Dimension Action Plan. Together with the initiative by the EBRD and NIB, I believe, there will be a clear message to all interested parties. The political will behind the Northern Dimension and its Action Plan will turn to the stage of implementation.

Thank you

























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