Bulgaria and Romania are set to join the European Union in January 2007. The Western Balkans and Turkey will face the prospect of EU accession once they meet strict conditions, providing them with a significant incentives to deliver further political and economic reforms. These issues were high on the agenda when the European Investment Bank (EIB) held its annual Forum in Athens on ‘Southeast Europe ― A Region on the Move’ on October 19 and 20.
The European Investment Bank plays an important role in the EU’s enlargement agenda, financing the modernization of infrastructure and investment in both local and foreign private businesses. EIB funds are essential for economic development and growth, increased trade and economic cooperation within the region, and economic integration into the EU, all of which promote job creation, prosperity and social stability.
The 2006 EIB Forum took an in-depth look at Southeastern Europe, examining the current position of the region and pinpointing the way forward, in particular prospects and priorities for practical action. 
Bulgaria and RomaniaThe Forum considered the achievements of Bulgaria and Romania, lending informed opinion on the support required from the EU to enable them to make further economic advances in line with their EU peers. The Forum focused on Turkey’s and Croatia’s preparations for accession and their economic relations with their neighbors, as well as presenting the EU’s strategy for fostering trade and economic development in the Western Balkans. In addition, discussion highlighted the important role of Greece, as the only EU member state at the crossroads of East-West and North-South in the region, for the development of Southeastern Europe. A panel of distinguished academics, including Loukas Tsoukalis, president of the Hellenic Foundation for European and Foreign Policy (ELIAMEP), the special adviser to Jose Manuel Barroso, Laza Kekic, director, Economist Intelligence Unit, and Panagiotis Ioakeimidis, professor of political science at the University of Law, Economics and Politics of Athens, specialist in EU issues, discussed the driving and breaking forces for further economic and political reform, particularly in the Western Balkans. 
The investmentsPolitical leaders from the region including Commissioner Olli Rehn, and various ministers of Greece, the Balkans and other countries deliberated the investment needed for fostering Southeastern Europe’s economic development: free trade in the Western Balkans as a precondition for attracting more foreign direct investment; the construction of Pan-European Transport Corridors, both road and rail, connecting the region with the EU; the upgrading of maritime infrastructure; the development of energy networks; and, not least of all, investment in human capital. Finally, the Forum, with a panel of private sector personalities including Ioannis Pechlivanidis, vice chairman and deputy CEO, National Bank of Greece, Giorgio Tellini, CEO, SACE Credit Insurance, Italy, and Fernando Becker, corporate resources director, Iberdrola, Spain, discussed the financing of such investment in infrastructure, both through available EU funds and the contribution of bank finance. In addition, participants examined local businesses’ access to finance, and funding sources on offer for foreign direct investment. Attended by some 500 prominent participants from all over Europe, the 2006 EIB Forum provided an overview of the further reform required in Southeastern Europe, encouraging prosperity and transformation in the region as it moves ever closer to the European Union. By Helen Kavvadia
Helen Kavvadia is senior communications officer at the European Investment Bank.
EIB Forum 2006 website: www.eib.org/events
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