As SEE countries aspire to eventual EU membership, the European Commission has been particularly active in the region both in providing technical assistance and in monitoring progress in financial sector reform. As regards technical assistance, the European Commission’s main instrument is the Twinning Programs financed by the PHARE and CARDS facilities.
Twinning Programs are particularly useful since each beneficiary country determines its specific needs and is subsequently able to choose the one that best meets its requirements among the proposals submitted. Twinning Programs also help to establish close working relationships between the authorities of recipient countries and those of the EU countries which provide technical assistance.