A two-day Regional Funding Conference for South East Europe opened in Brussels today, jointly chaired by European Commissioner for External Relations, Chris Patten, and World Bank President, James D. Wolfensohn, in close association with the Special Co-ordinator for the Stability Pact, Bodo Hombach.

Both donors and governments of the region renewed and re-inforced their commitments to live up to their Stability Pact commitments, to work together to transform the prospects for South East Europe and to integrate the region into the Euro Atlantic mainstream. They reviewed progress since the launch of the Stability Pact in Sarajevo in June last year.

The Conference marks a significant step in the translation of the Stability Pact principles into real progress on the ground – visible, tangible progress that makes a real difference to people’s lives. It highlights a new partnership between the region and the rest of the international community, involving obligations on both sides. All the participants recognised the importance of a joint commitment to reform on the one hand, and to integration with European and global structures, on the other.

The Conference demonstrates solid progress by the region in delivering on its commitments to reform. Countries today set out in detail their ambitious reform plans. These build on achievements since Sarajevo –such as the investment compact, the anti-corruption initiative and progress in promoting a strong and open civil society, including a free and independent media.

The Conference demonstrates also that the international community is honouring its pledges to stand by the reforms and by the region. The Conference will be discussing tomorrow a major package of projects designed to promote regional co-operation. The total value of the projects under discussion amounts to €1.8 billion. This money will fund quick start projects, which will start in the next twelve months, to upgrade infrastructure, promote trade, encourage investment, protect human rights, tackle corruption and boost co-operative security. All of these measures will be linked to progress by the region in implementing crucial reforms.

All of the projects to be discussed tomorrow have a clear regional dimension and are designed to promote co-operation between, as well as within, countries. They aim to harness the new spirit of regional partnership being nurtured in the region – examples of which include agreements reached in recent weeks on the Romania-Bulgaria bridge over the Danube, the Blace border crossing, and a Regional Trade and Transport Facilitation project, covering all countries in the region.