European Environmental Partnership Fund about to Be Created

Today, in Brussels, at a meeting between Russia, the European Bank for Reconstruction and Development, and the European Commission the issue of setting up the Environmental Partnership Fund is expected to be resolved. The fund is being organised to finance measures to lower water and atmospheric pollution and assure the nuclear security of Russia's Northwest, especially the Kola Peninsula.

According to the Finnish Helsingin Sanomat newspaper, the meeting will be attended by Jouni Backman , Finland's new Minister of Environment, who is expected to voice his country's decision to contribute EUR 10 million to the new fund. The Netherlands, Norway, Sweden, Denmark, and Russia are also contributing EUR 10 million each. The EU Commission is expected to come up with EUR 50 million. Great Britain and France also say they are interested.

The creation of the Environmental Partnership Fund for Russia's Northwest is part of the Northern Dimension concept authored by Finland. The money is supposed to pay for carrying out 16 nuclear security and 12 other environment-related projects. The creation of the fund was prompted by Russia's recent decision to do her share carrying out the said environmental protection-related undertakings.