EC Sets Aside Another EUR 2.1 Billion for Western Balkans – Funds for Serbia for Reconstruction of Hydro Power Plants

The European Commission has launched an additional investment package of EUR 2.1 billion for the Western Balkans within the Economic and Investment Plan, announced the EU Delegation to Serbia.

This is the fifth investment package within the EU Economic and Investments Plan for the Western Balkans.

– With this new investment package, we are sending a loud and clear message to our partners from the Western Balkans: their future is within the EU and we are making stable progress in closing the economic development gap. These projects will better connect the region inside and with the EU, help decarbonize their economies and support the competitiveness of the private sector in the region. I now invite our partners from the Western Balkans and international finance institutions to launch these projects as soon as possible so that the citizens and companies in the region could use the benefits of these investments – said the European Commissioner for Neighborhood and Enlargement, Oliver Varhelyi.

The investment package of EUR 2.1 billion, which includes EUR 528 million in EU grants from IPA III, additional bilateral contributions of EU member-states and Norway, loans from international finance institutions and contribution from the economies of the Western Balkans, was supported today by the Operating Board of the Western Balkans Investment Framework (WBIF).

The 14 new approved projects cover the following priority sectors:

• Sustainable transport: construction of sections and subsections of highways on Corridor Vc in Bosnia and Herzegovina and Corridor VIII in North Macedonia. These projects will facilitate regional trade, reduce travel times and incite sustainable economic growth.
• Clean energy: rehabilitation of hydro power plants in Serbia and Bosnia and Herzegovina to the end of reducing greenhouse gas emissions and increasing energy efficiency in North Macedonia. Other projects include the strengthening of the transfer network of North Macedonia or establishing green transport in Tirana.
• Living environment and climate: rehabilitation of the Sarajevo water supply system for the purpose of improving public health, strengthening commercial infrastructure and improving the overall efficiency of water supply in the Canton of Sarajevo.
• Humane development: improvement of energy efficiency and integrated energy management of the University of Belgrade.
• Private sector: supplying financial funds for renewable and efficient energy measures in the region, a sustainable approach to financing for entrepreneurship and a combination of specialized financing for digitization and competitiveness for micro, small and medium enterprises (MSMEs). These projects will help reduce inequality, increase the creation of new jobs and reduce energy consumption and greenhouse gas emissions.

Delegacija Evropske unije u Republici Srbiji Beograd

EU Delegation to Serbia

European Commission

Oliver Varhelyi

Economic and Investment Plan for the Western Balkans

Corridor Vc

Bosnia and Herzegovina

Corridor VIII in North Macedonia

rehabilitation of hydro power plants