The international organizations and the governments of the developed countries must make every effort so that the so-called "Balkans Syndrome" will not slow down the reconstruction process in southeastern Europe.

Both minister of Macedonia-Thrace Giorgos Paschalidis and US ambassador to Athens Nicholas Burns speaking in the one-day conference that was held in Thessaloniki today organized by the ministry of Macedonia-Thrace, the US embassy and the Inter-Balkan Black Sea Business Center in cooperation with the Hellenic-US Chamber of Commerce, expressed the belief that the public uproar over the depleted uranium used in the NATO bombs that hit Yugoslavia could become an obstacle for the reconstruction process in the region.

Mr. Paschalidis stated that Greece will contribute to the development of the countries in the region with 1% of its GNP or 180 billion drachmas.

US ambassador Nicholas Burns stated that the US investments in Greece are US$ 2.2 billion and they are expected to be increased considerably in the next five years, while there is strong interest for investments in northern Greece namely, Thessaloniki, Kilkis, Serres, Kavala, Komotini and Alexandroupolis.

Meanwhile, the Black Sea Board of Directors has approved the funding of 15 projects with more than US$100 million, stated the bank's president Ersoi Volkan. In addition the bank has approved export credits of US$17.5 million.

Also, Greece and seven more governments in cooperation with IFC, a World Bank branch, will offer US$33 million by 2005 for the economic support of small and medium sized companies in southeastern Europe, according to Marian Kurts, head of the IFC's Southeast Europe Enterprise Development program (SEED). The program is currently in effect in Albania, Bosnia-Herzegovina, FYROM and selectively in Kosovo, while it is likely to be expanded in the future to the small-medium sized companies in Serbia and Montenegro. The program concerns the businesses that are active for a period from one to three years and have over 10 employees.