On the concluding day of the Regional Funding Conference for South East Europe, 47 countries and 36 international organisations exceeded their goal to fully finance a comprehensive "Quick-Start" package of 1.8 billion Euros for regional projects and initiatives in South East Europe over the next 12 months.

More than 2.4 billion Euros has been pledged or committed today for projects aimed at developing infrastructure; promoting private sector development; supporting policy and institutional reforms and encouraging democratisation, reconciliation and security. This extra funding will help accelerate the preparation and implementation of projects and initiatives in the "near-term" package.

Jointly chaired by European Commissioner for External Relations, Chris Patten, and President of the World Bank, James Wolfensohn, in close association with the Special Co-ordinator for the Stability Pact, Bodo Hombach, the Conference stressed the importance of a joint commitment on the part of the countries of the region to a stronger and sustained effort to reform their societies and economies; and on the part of the international community to the establishment of a credible and predictable path to integration in European and global structures. The Conference has significantly advanced both objectives.

The countries of the region have indicated their commitment to ambitious plans for reform; and the international community has reciprocated by announcing today not just pledges of funds but also the rapid launch of highly visible projects that will make a real difference to people’s lives in the near future.

Today the Conference pledged support for specific regional projects. Examples include:

• Albania Water Project

• Montenegro Transport Rehabilitation Project

• Regional Trade and Transport Facilitation Project

• Bosnia and Herzegovina Power Interconnection Project

• Blace Border Crossing (Kosovo/FYR Macedonia)

• Bosnia and Herzegovina Demobilisation Project (to facilitate the reintegration into civilian society of demobilised soldiers)

• Regional Mine Awareness Campaign

• Feasibility Study for the Development of a Regional TV Network

The importance of rapid implementation of the many projects and initiatives prepared within the framework of the Stability Pact was stressed by many participants. In particular the adoption of the Investment Compact and the Anti-corruption initiative was welcomed, and the adoption of the Media Charter by the countries of South East Europe was encouraged.

The Conference participants renewed their commitment to a long-term partnership to build a brighter future for all the people of South East Europe, and pledged to work together with determination to achieve peace, prosperity and stability in the region.