TWO-DAY SESSION OF STABILITY PACT'S ECONOMY TABLE ENDS IN SKOPJE

SKOPJE, Feb 11 (Hina) - A two-day meeting of the working table on economy, reconstruction and development of South-East Europe concluded on Friday in Skopje with a speech given by Stability Pact Special Coordinator Bodo Hombach. The Stability Pact (of South-East Europe) has no alternative concerning the speedy democratisation and economic development of the region. There is, however, no magic wand and therefore Stability Pact member-countries should show patience, Hombach said adding that the Skopje meeting defined the first phase of the pact's implementation covering about 80 projects. The second important phase is a financial conference slated for 29 March in Brussels which should raise enough funds, Hombach added. Besides financial institutions and many European Union member- states, Japan, Switzerland and countries outside the EU have applied to donate necessary financial means. A preliminary report of the European Investment Bank (EIB) on evaluation of infrastructure projects, proposed by Stability Pact member countries, as well as the establishment of priorities for the coming financial conference stirred up the greatest interest during the two-day meeting of the working table on economic recovery of South-East Europe. Although EIB has given priority to projects proposed by countries that were worst hit with the Kosovo conflict - Albania, Bosnia- Herzegovina and Macedonia - Croatia has offered additional negotiations to hold representatives of international financial institutions before the start of the Brussels conference. (hina) mm ms