EUR 1.2 bn EU funding for W. Balkans infrastructure, entrepreneurship
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(BRUSSELS) - The European Commission announced Tuesday the sixth investment package under the EU's Economic and Investment Plan for the Western Balkans expected to mobilise €1.2 billion in investments.
The package will support eight new flagship investments in water supply and sanitation, wastewater treatment and rail transport, as well as innovation and green transformation in small and medium enterprises. The investments will be rolled out in close cooperation with the Western Balkan partners and international financial institutions, says the EU executive.
"Our €30 billion Investment Plan for the Western Balkans is delivering, with this new €1.2 billion package. It strengthens regional connections with quality infrastructure and brings us closer together, which is our ultimate goal," said European Commission president Ursula von der Leyen.
The €1.2 billion in investment package includes €300 million in EU grants from the Instrument for Pre-accession Assistance (IPA III), additional bilateral contributions from EU Member States and Norway, loans from international financing institutions and contributions from the economies of the Western Balkans. The package was endorsed by the Operational Board of the Western Balkans Investment Framework (WBIF) during the 1-2 July meeting.
The new flagship investments fall under three priorities of the Economic and Investment Plan:
- Environment and climate: Reconstruction and rehabilitation of water supply and sanitation infrastructure in Montenegro and Bosnia and Herzegovina.
- Sustainable transport: advancing on Corridor X rail infrastructure, with the high-speed Belgrade – Velika Plana connection enabling a faster flow of passengers and freight in the region.
- Support to the business sector: launch of a new facility for innovation and green transformation of enterprises in the region.