TIRANA, April 4 /ATA/ – The European Council presidency and the European Parliament have reached a significant milestone with the provisional agreement on the establishment of a Reform and Growth Facility tailored for the Western Balkans.
This facility stands as the cornerstone of the EUR six-billion Growth Plan for the Western Balkans, which was initially introduced by the Commission in November 2023.
The Head of the Delegation of the European Union to Albania, Ambassador Silvio Gonzato, said that reaching the provisional agreement is great news for the Western Balkan region.
“This facility is a huge boost for Albania’s EU membership. It will open up new opportunities for people from Albania and other countries of the region before accession,” the EU Ambassador Silvio Gonzato said.
Encompassing the period from 2024 to 2027, the Facility is poised to offer substantial support, with up to EUR 2 billion earmarked for grants and an additional EUR 4 billion allocated for loans to the EU’s Western Balkan partners.
The package will also complement the existing Instrument for Pre-accession Assistance (IPA III), considerably increasing financial assistance to partners in the region.
The facility will support the EU’s Western Balkan partners in undertaking EU-related reforms and stimulate their economic convergence with the EU, based on ambitious Reform Agendas.
/m.m/u.sh/
