Energy crisis, EU allocates 1 billion euros to help Kosovo, other Western Balkan states

The news has revealed European Commission President Ursula Von der Leyen at the Western Balkans Summit under the Berlin Process.

Von der Leyen said the European Union continues to lag behind the Western Balkans.

“The EU continues to stand behind the Western Balkans in both good times and difficulties. During the COVIED-19 pandemic, we mobilised an unprecedented 3.3 billion-euro package for the region and today we are creating a 1 billion-euro power support package to protect the most vulnerable groups and promote much needed investments in the diversification of energy”, it has declared.

Budgetary support of 500m euros is expected to be approved in December and available in January.

“in an immediate period, the Commission is ready to provide budgetary support of 500m euros, which will be approved in December and available in January. This amount will support small- and medium-sized households and enterprises to protect against increasing their energy price and influence”, the report said.

The other 500m euros are expected to be shared in the next three years.

In the short-term and medium-term, the Commission will provide another 500m euros to advance energy diversification, renewable energy production and power interconnections through the Western Balkans Investment Framework. The short-term measures (1-2 years) will support diversification of energy supplies, boosting gas and electricity interconnections, including LNG, as well as supporting the construction of renewable energy projects and energy efficiency measures. The medium-term assistance (2-3 years) will include other investments contributing to transition and energy security. These measures will cover large-scale renewable energy generation projects, improved energy transmission systems, central heating and energy efficiency schemes for the old residential blocks”, the European Commission's announcement said.