The European Commission announced it would release the sixth investment package under the Economic and Investment Plan for Western Balkans, according to bne IntelliNews.
The EU package, announced on 2 July, is expected to mobilise investments of 1.2 billion euros.
“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.”
The investment package consists of €300 million in EU grants under the Instrument for Pre-accession Assistance (IPA III). It also counts on bilateral contributions from EU Member States and Norway. Moreover, the package includes loans from international financial institutions and contributions from the economies of the Western Balkans.
The new package comprises investments in three categories, including environment and climate, sustainable transport and business sector support. The latter includes the launch of a new centre for innovation and green transformation of companies 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. Adopted by the European Commission in October 2020, the Plan mobilises up to €30 billion in investments, including €9 billion in EU grants through IPA III, over the seven-year period. Of this amount, €5 billion has been committed through the WBIF.
The WBIF, Western Balkans Investment Framework, is a joint financial platform created 15 years ago. It brings together the European Commission, financial organisations, EU member states, and Norway. It aims to stimulate co-operation in public and private sector investment. The programme also supports the socio-economic development of the region and promotes the integration of the Western Balkan countries into the EU.
The Platform is the main financial instrument for the implementation of the EU Economic and Investment Plan. The WBIF will also channel €3 billion of grants and loans under the Fund to support priority investments in the areas of transport, energy, digital technologies, and human capital.
So far, the EU has approved programmes that will mobilise up to €17.5 billion in investments under the Economic and Investment Plan. It includes €5.4 billion in EU grants.
