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EU pledges 680 million euros investment and full commitment to Western Balkans

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Western Balkan countries will benefit from a 680 million euro investment program as part of the EU’s economic and investment plan, President Ursula von der Leyen said yesterday.

The announcement came as part of a summit bringing together EU leaders, including the EU’s 27 heads of state or government, and the leaders of the six Western Balkan partners. The summit underlined the region’s proximity to the EU and its European aspirations.

At a closing press conference, the Commission President announced that the Commission will support five flagship investment projects in the Western Balkans covering rail transport and renewable energy, worth an estimated €680 million. euros.

One of them, the Albania photovoltaic plant, could be ready as early as 2026, underlining that the benefits for the region from EU investments will be tangible in the very short term.

“Together we are laying the foundations for sustainable growth and closer integration, demonstrating once again our strong commitment to the region’s prosperity and its path towards EU membership,” said President von der Leyen about the new investment programme.

Harnessing the full economic potential of the Western Balkans

The Commission President also presented details of a new growth plan for the Western Balkans, which will boost economic growth in the region and unlock much of its untapped potential.

As part of the growth plan, Western Balkan leaders will be encouraged to complete their Common regional market (CMR), structured around the four traditional freedoms of movement of goods, services, capital and people. A strong and dynamic CMR will subsequently facilitate integration into the EU single market.

The EU will also open its own market in the Western Balkans in seven important sectors, including customs cooperation, cashless payments and transport.

Also as part of the growth plan, President von der Leyen discussed a financing plan called the “Western Balkans Reform and Growth Facility”. It will be based on principles similar to those of the ambitious European NextGenerationEU program: “You make reforms, here is the investment that accompanies these reforms,” she stressed.

As all six partners implement the fundamental reforms required on the path to EU membership, the Growth Plan will also provide additional financing to support further reforms and growth.

On the road to the EU

President von der Leyen also provided an update on the formal accession journey of all partners following the Commission’s agreement. report on enlargement last month.

In this report, the Commission recommended starting negotiations with Albania and North Macedonia on the so-called fundamental group as soon as possible, and starting them with Bosnia and Herzegovina once the necessary degree of compliance with the criteria membership would be achieved.

The President welcomed the new momentum of integration in Montenegro with the formation of a new government.

“For both Kosovo and Serbia, the way forward is to respect their commitments within the framework of the EU-facilitated dialogue,” concluded the President, warmly welcoming the reduction in tensions in northern Kosovo, in especially on the driving license. electric plates, on electricity and on the preparation of early municipal elections.

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