The European Union recently launched a new energy support package for the Western Balkans which Serbia will benefit from in particular. Ranging from support for vulnerable households and businesses to mitigate the hike in energy prices, to a plan for a new power plant and a wind farm, the plans are wide-ranging and will materialise soon in Serbia and the region.

Serbia and the EU have agreed a set of seven new projects on energy, the environment and transport infrastructure. This constitutes the biggest investment of the EU in Serbia dedicated to a green economy. The Operation Board of the EU and its Western Balkan Investment Framework co-financed by member states approved €263 million of EU grants for seven projects in Serbia. The approved EU grants complement loan funding from the European Investment Bank, the European Bank for Reconstruction and Development, and the German Kreditanstalt für Wiederaufbau (KfW), as well as national contributions from Serbia. The funds are a continuation of donations from the European Union to support the Green Agenda for the Western Balkans, and constitute elements of the EU’s Economic and Investment Plan.

These new projects will directly and positively impact the quality of life across Serbia by improving connectivity and reducing unnecessary emissions and environmental degradation. With this €263 million EU investment, substantial economic growth will be enabled by the creation of new business opportunities and jobs in local communities.

On 6 December, 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. The donation to Serbia’s energy sector is a part of the €500 million of funds for projects in the Western Balkan energy sector, as announced at the Tirana summit.