Press Release: European Commission pledges substantial financial support to the Federal Republic of Yugoslavia at Brussels Donors’ Conference

On 29 June 2001 the European Commission pledged a total of €530 million in a financial support package of grants and loans for the FRY at an international donors' conference jointly hosted by the Commission and the World Bank, in Brussels. This pledge is in addition to the pledges by individual EU Member States that were made separately at the conference, and underlines the scale of the overall EU contribution to the reform and reconstruction effort in the FRY. The European Commission's financial package is part of the continuing effort to return the FRY to stability and economic growth that began within weeks of the fall of Slobodan Milosevic in October 2000. The funds pledged on 29 June 2001 will assist the FRY authorities with institution building and economic reform, and will help them in their efforts to transform their country into a modern, market oriented member of the family of European democracies.

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