[Weekly Compilation of Presidential Documents Volume 36, Number 31 (Monday, August 7, 2000)]
[Page 1727]
[Online from the Government Publishing Office, www.gpo.gov]

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Statement on the Stability Pact for Southeast Europe

July 28, 2000

    A year ago in Sarajevo I joined leaders from Europe, other nations, 
and the international financial institutions to launch the Stability 
Pact for Southeast Europe in the aftermath of the Kosovo conflict. 
Working closely with our partners in Europe and the region, I am proud 
of the progress that we have made. We have promoted political and 
economic reform, provided financial support for the region's economic 
development, and advanced the membership of southeast European countries 
in key international institutions.
    Europe, appropriately, is leading this effort, joining international 
financial institutions in pledging over 85 percent of assistance to the 
region. The United States is doing its part by contributing to more than 
50 Quick Start projects to improve infrastructure, attract investment, 
reinforce human rights, and fight crime and corruption. This week we 
established with the European Bank for Reconstruction and Development a 
$150 million fund to promote small and medium businesses in the region. 
We also launched a $150 million regional equity investment fund to 
invest in telecommunications, consumer goods, and other sectors in the 
region. Initial reforms have led to the beginning of renewed economic 
growth this year. Private investment is up, and inflation is down. 
Democratic values and structures are growing stronger. In Kosovo, the 
first democratic local elections will be held this fall.
    While results since the Stability Pact summit are encouraging, the 
last aggressive dictatorship in Europe remains a threat to peace. We 
will continue to support the democratic opposition in Serbia and the 
people of Montenegro until they can take their rightful place among the 
free and prosperous people of Europe. With continued commitment by both 
the region and the international community, we can achieve our common 
vision of building a peaceful, undivided, and democratic Europe.

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