For this reason, the U.S. Government has designed programs that substantially lower the cost and risks for companies entering the Southeastern Europe market. Speaking at the White House, Mr. Soros noted that while he may be known in Eastern Europe for his philanthropy, his intention with this fund was to make money. If I may be permitted an aside. Perhaps he has heard a bell ringing that the rest of us can't yet hear. Admittedly, not all regional markets offer equally great possibilities for U.S. companies.
Official donors have a special role in such cases.
Bosnia-Herzegovina, while still possessing a difficult business climate, provides a good example of how official donors are working to build local institutions and improve governance. After the shooting stopped in 1995, much of the initial government and donor response had to go to replacing destroyed bridges, restoring electricity and gas, and returning people to their homes. Relatively little has been accomplished in economic reform. But in recent months, discussions have begun on integrating power grids within the region and breaking up local telephone monopolies. Progress has occurred largely owing to an energized internationaldonor community, which has divided among itself reform responsibilities.