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Today, the European Commission launched a new financial envelope to support 14 flagship investment projects in transport, energy, environment, human capital and support for the private sector in the Western Balkans, for a total amount of 2.1 billion euros. This is the fifth investment program under the EU Economic and Investment Plan for the Western Balkans. Projects have been prepared in close cooperation with Western Balkan partners and international financial institutions to accelerate the region’s European perspective.
Olivér, European Commissioner for Neighborhood and Enlargement Várhelyisaid: “With this new investment program, we are sending a strong and clear message to our partners in the Western Balkans: their future is within the EU and we are making steady progress to narrow the economic development gap. These projects will better connect the region within and with the EU, help decarbonize their economies and support the competitiveness of the private sector in the region. I now call on our Western Balkan partners and international financial institutions to roll out these projects as soon as possible so that citizens and businesses in the region can reap the benefits of these investments.»
The €2.1 billion investment programme, which includes €528 million in EU grants under the Instrument for Pre-Accession Assistance (IPA III), additional bilateral contributions from Member States from the EU and Norway, loans from international financial institutions and contributions from the economies of the Western Balkans, was approved today by the Operational Board of the Western Balkans Investment Framework (WBIF).
The 14 new approved projects cover the following priority sectors:
- Sustainable transport: construction of motorway sections and subsections in road corridor Vc in Bosnia and Herzegovina and in corridor VIII in North Macedonia. These projects will facilitate regional trade, reduce travel times and stimulate sustainable economic growth.
- Clean energy: rehabilitation of hydroelectric plants in Serbia and Bosnia-Herzegovina to reduce greenhouse gas emissions and improve energy efficiency in North Macedonia. Other projects include strengthening North Macedonia’s transport network or deploying green transport in Tirana.
- Environment & climate: rehabilitation of the Sarajevo water system to improve public health, boost business infrastructure and improve the overall efficiency of water supply in Sarajevo Canton.
- Human Development: energy efficiency improvement and integrated energy management of the University of Belgrade.
- Private sector: provision of financing for renewable and efficient energy measures in the region, sustainable access to financing for entrepreneurship and combination of specialized financing for digitalization and competitiveness for micro and small enterprises (MSMEs). These projects will help reduce inequalities, increase job creation and reduce energy consumption and greenhouse gas emissions.
Background
The EU Economic and investment plan for the Western Balkansof up to €30 billion in investments, including up to €9 billion in EU grants, aims to boost long-term recovery, accelerate the green and digital transition, as well as ‘to promote regional cooperation and convergence with the EU.
As a result of the new investment programme, a total of 54 EIP flagship investments are supported by the WBIF, worth around €8 billion, including €2.3 billion in EU grants .
THE Western Balkans Investment Framework (WBIF) is a joint financial platform of the European Commission, financial organizations, EU Member States and Norway aimed at strengthening cooperation in public and private sector investments for the socio-economic development of the region and contributing to the European integration of the Western Balkans. The WBIF is the main financial instrument for the implementation of the EU’s ambitious economic and investment plan for the Western Balkans.
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