6 billion euro support from the EU

The European Commission has announced its new growth plan proposal for the Western Balkans, aimed at boosting economic growth and accelerating socio-economic convergence.

According to the plan, which is designed to support reforms and investments that will accelerate the enlargement process and increase economic growth, a new Reform and Growth Facility of 6 billion euros will be established for the Western Balkans for the 2024-2027 period.

This will consist of 2 billion euros in grants and 4 billion euros in concessional loans.

With these resources, the goal is to increase the Western Balkans' compliance with Single Market rules and enhance economic integration.

The free movement of goods, services, and workers, access to the European payments area, the facilitation of road transport, and the integration of energy markets and supply chains will be priority areas in the plan.

Economic integration in the Western Balkans will be further expanded through a Common Regional Market based on EU rules and standards.

The proposal requires the approval of the European Parliament (EP) and member states to enter into force.

The plan aims to increase the EU's economic relations with Albania, Kosovo, Bosnia and Herzegovina, Serbia, North Macedonia, and Montenegro.