The Joint IFI Action Plan for Growth in Central and South Eastern Europe was announced in a statement by the Presidents of the European Investment Bank (EIB) Group, the World Bank Group and the European Bank for Reconstruction and Development (EBRD) on November 8, 2012. Under this plan, the three institutions have jointly committed to making more than EUR 30 billion available to the countries in Central and South Eastern Europe from the date of announcement to end-2014. These resources are aimed at rekindling growth in the region by supporting private and public sector initiatives covering infrastructure, corporate investment and the financial sector, among others.
The new Action Plan was designed in the context of the "Vienna Initiative" and follows the successful 2009-2010 Joint IFI Action Plan. However, its scope is wider and more ambitious than the first plan, which concentrated on supporting growth by funding the financial sector in the context of the global financial crisis. The present report covers developments under the new initiative in the period up to end-July 2013 and will be followed by further reports at approximately six monthly intervals during the life of the plan.