WARSAW, Dec. 5 (Xinhua) -- Polish Finance Ministry announced Tuesday that the country will donate 50 million euros (59 million U.S. dollars) to the European Investment Bank (EIB) to support countries affected by the migration crisis.
The Finance Ministry said in a press release that Poland, as the first EU country signed a contract with the EIB regarding participation in the Economic Resilience Initiative (ERI), will donate 50 million euros by the end of 2017.
"Joining the ERI is a contribution of Polish solidarity in tackling the most important developmental, humanitarian and migration challenges in the EU's neighbourhood," said Deputy Prime Minister, Minister of Development and Finance Mateusz Morawiecki.
According to the press release, the ERI, which will cover the countries of the Southern Neighborhood and the Western Balkan, aims to increase the resilience of these countries' economies to shocks, such as the Syrian refugee crisis.
The initiative's priorities are infrastructure, private sector development, sustainable growth and job creation. These activities will also contribute to tackle the root causes of migration.
