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News / €14.2 billion to help accession countries implementing EU-related reforms
The European Parliament has given its green light to the next generation of the pre-accession funding instrument that will help seven countries better prepare to meet the obligations of future EU membership. This is the final step of the adoption process for this instrument, through which the EU will provide support to key political, institutional, social and economic reforms.
Worth €14.2 billion, the 2021-2027 Instrument for Pre-Accession Assistance (IPA III) will support the implementation of these EU-related reforms in Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia, and Turkey.
Commissioner for Neighbourhood and Enlargement, Olivér Várhelyi, commented: “Together, we have shaped an instrument that has great potential and sends a strong signal that the European Union is committed to support the enlargement region. IPA III is definitely an investment in the future.”
IPA III has a strategic and performance-based design with no country-specific allocation from the outset, and will focus on the rule of law and the respect of fundamental values, strengthening democratic institutions and public administration reform, promoting economic governance and reforms for competitiveness. It will also tackle sustainable economic recovery, energy supply, transport, environment and climate change, and digital transformation.
Source: European Union
Photo credits: European Union
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