New Financing Instrument for Potential EU Member States

Ministers have agreed on new financial tool to help potential EU members to get ready for accession.

The Council of Ministers on 17 July agreed to get a new Instrument for Pre-Accession Assistance (IPA) underway. This IPA will be open to candidate, as well as potential candidate countries: Croatia, Turkey and the Former Yugoslav Republic of Macedonia, as well as Albania, Bosnia and Herzegovina, Montenegro and Serbia including Kosovo. 

The financial tool will replace the five existing pre-accession assistance instruments (PHARE, ISPA, SAPARD, Turkey pre-accession instrument and CARDS) as of 1 January 2007. 

The funding will amount to 11.468 billion euros for 2007-2013, and is intended to help potential EU Members to prepare for accession and fulfil the Copenhagen criteria. The new IPA will provide more targeted and coherent assistance through a single financial instrument, while taking into account the special needs of each country.

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