Brussels – Green light from the EU Council for financial aid to Western Balkans countries. Ambassadors of the twenty-seven Member States approved the negotiating mandate of the Reform and Growth Fund for the countries of the region (Albania, Bosnia and Herzegovina, Kosovo, North Macedonia, Montenegro and Serbia). Presented by the European Commission last November, the special program should provide, from 2024 to 2027, up to 2 billion euros in grants and 4 billion euros in loans to EU partners.
The Fund will help EU partners in the Western Balkans to undertake comprehensive set of socio-economic and fundamental reforms, particularly in terms of the rule of law and fundamental rights, support the enlargement process and accelerate the economic convergence of partners with the EU. In this regard, Payments “will be subject to strict conditionalities in terms of implementation of the reforms planned in the agenda agreed by each partner”, recalls the EU Council in announcing its green light.
This is one of the key points for the permanent representatives of the twenty-seven countries. One of the fundamental changes compared to the initial proposal of the European executive concerns precisely strengthening the role of the board in the governance of the instrument. Thus, EU member states will have a say in the disbursement of resources. The European institution will have greater weight in adopting and modifying reform programs, in monitoring compliance with preconditions for EU aid and in assessing compliance with payment conditions. In its mandate, the council places greater emphasis on align partners on the common foreign and security policy.
As soon as the European Parliament has adopted its position, interinstitutional negotiations for the final green light and activation of the Western Balkans Reform and Growth Fund can begin. The EU strategy for the region is based on four pillars aimed at strengthening the economic integration of Western Balkan partners with the EU single market, promoting economic integration within the region through the market common regional framework, accelerate key reforms and increase financial assistance.
English version by Withub translation service