23 minutes agoEU allocates 171m euros for Western Balkans, Kosovo does not benefit after it has met legal conditions
Periskopi(6 months ago)
(6 months ago)The European Commission has announced 171m euros in support for boosting infrastructure development and private sector growth in the Western Balkans. However, these funds will not benefit Kosovo. “As far as Kosovo is concerned, it has still failed to meet the legal conditions to accept payment, since it has not ratified the agreement [...]
“As far as Kosovo is concerned, it has yet to meet the legal conditions to accept payment, as it has not yet ratified the Credit and Fund Agreement under the Instrument for Reform and Growth for the Western Balkans. Therefore, Kosovo cannot benefit from the funds of this instrument. We hope that this issue will be resolved immediately”, EC spokesman Guillaume Mercier told Radio Europe Free.
Out of this amount earmarked for boosting development in the Western Balkans, 94.7m euros are dedicated to infrastructure investments, 76.3m euros for private sector support, while 2.9m euros are earmarked for four technical assistance projects in Albania and Bosnia and Herzegovina.
These projects are oriented towards preparing future investments in the energy sectors, water supply, innovation and research.
According to the EC report, the allocated funds for infrastructure projects are expected to mobilise a total of 263m euros in investments through seven priority projects, including digitalisation, clean energy, human capital, transportation and environmental protection.
The projects include establishing wide-generation internet infrastructure in Albania, improving the power transmission system in northern Macedonia, as well as efficient construction and upgrade of educational facilities in Macedonia and Montenegro.
According to the EC, the projects will be implemented by Western Balkan partners in co-operation with international financial institutions.
“Investing our partners in the Western Balkans is essential for their approach to the European Union. More than two years after adopting the Western Balkans Growth Plan, we have worked on including through the Investment Framework for the Western Balkans to turn pledges into concrete actions. From improving infrastructure to strengthening business development, these investments create real opportunities for citizens and make the EU a tangible reality throughout the region”, European Commissioner for Enlargement Marta Kos said through a statement.
The new stand-by package includes investment contributions from several EU financing sources, including the Instrument for Pre-Accession Assistance (IPA), bilateral donors through the Investment Framework for the Western Balkans, as well as the Instrument for Reform and Growth.
The current funding package includes investment projects and technical assistance projects that were approved today, strengthening the EU's commitment to sustainable growth and regional interconnection in the Western Balkans”, the EC said.
After adopting the Investment Framework Board for the Western Balkans, projects could be passed on to the implementation phase. This means finalising the necessary agreements with partner institutions and beneficiaries, launching feasibility studies for technical assistance activities and completing procedures necessary for the implementation of private sector projects. After completing these processes, the implementation of investments supported by the bloc could begin. / REL/
