This paper intends to go through the main issues about the role of the Phare Crossborder funds in the development of the economy in the border area. The specific approach is linked to the Neighbourhood Programme Romania-Ukraine. The paper starts with the European view about the external borders aims, describes the framework of the Neighbourhood Programme focused on the aspects with relevance on economical improvement of the border areas and presents few financial marks. There are reviewed the most important lessons learned during the implementation of the programme and there are listed some of the results that marked an economical change and could have long term economical impact. The paper concludes the main ingredients needed for a future cooperation in terms of crossborder economical projects between two different countries, at the external border of the European Union.