Brussels, 2 July 2024 (MIA) - Today, the European Commission announced the sixth investment package under the EU's Economic and Investment Plan for the Western Balkans that is expected to mobilise €1.2 billion in investments.

This 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, reads the EC’s press release.

President of the European Commission, Ursula von der Leyen, said: “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. Our Western Balkan partners are building their European future. These investments, along with necessary reforms and access to our Single Market, will prepare our partners' economies to join our Union.”

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 and support to the business sector: launch of a new facility for innovation and green transformation of enterprises in the region.

As part of the Global Gateway, the EU's Economic and Investment Plan for the Western Balkans (2021-27) aims to spur long-term recovery, accelerate a green and digital transition, and foster regional cooperation and convergence with the EU.

Photo: MIA archive