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EU commits record €6 billion to Western Balkans for growth
Good news for the Western Balkans: on the 4th of April 2024, the Parliament and the member states reached a political agreement to give €6 billion to help Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia. This money is for them to get ready to join the European family.
The money, which includes highly concessional loans and grants, will help make their economies strong and change things for the better. With this support, the Western Balkans can move faster towards becoming part of Europe.
Ursula von der Leyen, who leads the European Commission, shared: “It’s not only about money. We are creating a path for the Western Balkans to join us more quickly.”
The funds will be spent on making services and infrastructure like roads, energy, and the internet better. This will make people’s lives better in the Western Balkans and help the region meet European standards.
The EU says it will give this money if the Western Balkans do their part. They need to improve how their governments work and how they handle money. Working together for a better future is key.
This support is part of the Growth Plan, which the EU made last year to prepare the Western Balkans for joining the EU. The plan aims to help people and companies there and to speed up the joining process.
Now, the plan just needs a final okay from two important institutions – the European Parliament and the Council. Once they say yes, the plan can start.
For More Information:
Commission Communication on the new Growth Plan for the Western Balkans
