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€1 billion Energy Support Package for the Western Balkans
On 6 December 2022, the European Commission President Ursula von der Leyen presented the Energy Support Package for the Western Balkans, at the EU-Western Balkans Summit in Tirana. It consists of€1 billion in EU grants to help the Western Balkans addressing the immediate consequences of the energy crisis and build resilience in the short to medium term.
The first half of the package consists of €500 million in budget support to mitigate the economic and social impact on vulnerable households and SMEs and support the energy transition and security of the region. 90% of the funds will be disbursed already in January 2023, while the rest will follow later in 2023/early 2024 against the successful implementation of national action plans, tackling the energy crisis, by the six Western Balkan partners.
The second half of the package consists of €500 million to advance in energy diversification, renewable energy generation and gas and electricity interconnections through the Western Balkans Investment Framework (WBIF). The package covers an allocation of €100 million replenishment of the Regional Energy Efficiency Programme (REEP), another €170 million in EU grants for public and private sector blending, and up to €230 million of EU funding for six guarantee schemes supporting the energy sector. Most of this funding package was already approved by the WBIF Operational Board pertaining to Blending on 5 December 2022 in Brussels.
Source: WBIF
Photo credits: WBIF
