8 hours agoEBRD allocates 1.7 billion euros for Western Balkan countries
Periskopi(6 years ago)
(6 years ago)The European Bank for Reconstruction and Development (BERZH) says Western Balkan economies should take the moment of co-operation amid the crisis caused by the coronary pandemic to strengthen regional integration. BERZH Director for the Western Balkans Zusussanna Hargitai said the cost of putting the coronary under control is too high and that [...]
The European Bank for Reconstruction and Development (BERZH) says Western Balkan economies should take the moment of co-operation amid the crisis caused by the coronary pandemic to strengthen regional integration.
EURZH Director for the Western Balkans Zsuzsanna Hargitai said it is too high to put corruption under control and that Western Balkan countries could not bear only the burden of war and should know that they are not lonely even though they are not members of the EU or the eurozone.
Ahead of tomorrow's virtual EU-Western Balkans summit, Hargitai said EURZH is leading the region's support and, following a record 1.3 billion euros in investments for 2019, plans to secure up to 1.7 billion euros this year to alleviate the effects of the pandemic crisis.
This crisis shows that co-operation is the right way. Western Balkan countries should use this moment to bring a new moment to regional integration. One of the consequences of the crisis will be to re-enhancing global supply chains, which can be a historic opportunity for the Western Balkans,” said Hargitai.
The EBRD's response to the crisis in the Western Balkans shows that rigid restrictions were a shock to the region's economy, which was expected to speed up economic growth for 2020.
In six Western Balkan economies, B ERZH is a leading institutional investor. The bank invests on average more than a billion euros in the region. In 2020, it seeks to respond to the crisis by securing up to 1.7 billion euros, “said BERZH.
In a report on regional economic prospects published in April, B The ERZH states that extraordinary health measures have hit the country's bid and demand, the biggest disorder in global economic activity since World War II.
“Restrictive measures set to fight the coronary can have a significant long-term economic, political and social impact,”, the report says.
The report says Bosnia, Northern Macedonia and Serbia may be the most affected by disruptions in global supply chains.
Albania and Montenegro, which most rely on tourism, will be negatively affected by the restrictions of movement, while in Kosovo, as well as in other Western Balkan countries, the decline of domestic demand will come to an obvious extent, the BERZH concludes.
