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U.S. Plans Significant Contribution To New Black Sea Fund

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  • U.S. Plans Significant Contribution To New Black Sea Fund

    U.S. PLANS SIGNIFICANT CONTRIBUTION TO NEW BLACK SEA FUND

    PanARMENIAN.Net
    14.06.2006 18:36 GMT+04:00

    /PanARMENIAN.Net/ The United States plans to make a substantial
    contribution to the Black Sea Trust, a new multimillion-dollar fund
    promoting democracy and cooperation among nine countries in southeast
    Europe, President Bush's deputy national security adviser says. The
    trust will provide grants to focus on enhancing economic and security
    cooperation, crisis management and democracy in Armenia, Azerbaijan,
    Bulgaria, Georgia, Moldova, Romania, Russia, Turkey and Ukraine.

    In remarks at the Black Sea Forum June 5 in Bucharest, Romania,
    Deputy National Security Advisor J. D. Crouch said the United States
    would participate in and make a significant financial contribution
    to the trust in partnership with the German Marshall Fund, the
    Romanian government and other donors. Crouch said the United States is
    supporting other initiatives such as the Black Sea Economic Cooperation
    initiative and the Southeast European Cooperative Initiative. "We want
    to hear your ideas on how to cooperate more effectively to address
    a broader range of issues," Crouch added.

    The German Marshall Fund (GMF) of the United States announced
    the creation of the trust on June 5 during the Black Sea Forum in
    Bucharest, Romania. The GMF said it anticipates launching operations
    of the Black Sea Trust in the fall, with initial contributions
    of more than $20 million, climbing to more than $40 million as the
    trust matures. Contributors include the U.S. Agency for International
    Development (USAID), the Charles Stewart Mott Foundation, the Romanian
    government and other private and public donors from the United States
    and Europe.
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