Environmental Assistance to Eastern Europa - Annual Report 1998

2. Comments

2. Comments

2. Comments

By Erik Hoffmeyer, former Governor of the Danish National Bank,
Chairman of the Advisory Committee to the Danish Environmental
Support Fund for Eastern Europe

It is natural that the extensive assessment of the efficiency of the projects that over the years have been supported through DEPA’s activities in the countries of Eastern Europe has been an important element of the discussions of the Advisory Committee.

The effects of the assistance depend not only on whether the individual projects are implemented according to plan but, perhaps even more, on the local participants’ commitment to the projects.

In this connection, it is noteworthy that visits to the individual projects have left the impression that what has been established under the projects has generally served as a source of considerable inspiration.

Economic development in the Eastern European countries has been influenced by the stagnant economy of the European Union and by the shock of the Russian financial collapse in the late summer of 1998.

Both factors have contributed to curbing economic progress, but it seems as if the coming economic growth expected in the European Union will have favourable influence, not least on the countries in Central and Eastern Europe.

Also the favourable development in the Russian economy, which we hope will continue, contributes to stabilizing the economic conditions.

In the light of this, there should be a good basis for the co-operation on environmental investments in the Eastern countries to develop in a positive direction.