HLSG FORWARDS RECOMMENDATIONS TO BRUSSELS CONFERENCE

WASHINGTON, March 28 (Hina) - A conference in Brussels should give impetus to two great regional projects in southeastern Europe - the infrastructure construction and the development of the private sector and investments, read a statement released by the management group for southeastern Europe (HLSG), in Washington on Tuesday. The HLSG consists of several finance ministers and senior officials of international financial institutions. The Group is being co- chaired by the World Bank President James Wolfensohn and the European Commissioner for economic and monetary issues, Pedro Sobles. This Group recommends to participants in the international donors' conference, scheduled for Wednesday and Thursday in Brussels, to assist financially the implementation of a programme for the construction of infrastructure in southeastern Europe. The projects are backed by Europe's Investment Bank that has assessed that 1.1 billion euro will be necessary for the accomplishment of this goal, and some 400 million have not yet been covered to date. The second project refers to the development of the private sector and investment in the region. The European Bank for Reconstruction and Development (EBRD), that will be a carrier of the project, said it still needed 104 million euro for the programme worth 290 million. The statement added that the programmes, which would be carried out within the Stability Pact, would have a positive impact on the growth and stability in the region if they were followed by southeastern countries' resolute and persistent efforts in reforms of the strengthening of their economies and institutions. (hina) mm ms