EBRD Chief Announces Greater Support For Region At EU-Western Balkans Summit

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The European Bank for Reconstruction and Development (EBRD) is planning to significantly increase funding for the Western Balkans this year and has strengthened its support to reforms in order to help the region deal with the economic consequences of the corona virus epidemic, the president of EBRD, Suma Chakrabarti, has stated.

Chakrabarti stated at the May 6 EU-Western Balkans summit that the EBRD would combine its financial resources with grants of partners from the EU, the bank has stated.

The EBRD president said the expected increase in funding for the Western Balkans would be around 30 percent, to 1.7 billion euros in 2020, from the record high 1.3 billion in 2019. At the summit, which was held on-line instead of in Zagreb because of the corona virus pandemic, Chakrabarti said the EBRD was proud to support the efforts of Team Europe in the region.

In his words, the EBRD's assets for the Western Balkans will primarily be directed to micro, small and medium enterprises and trade, as well as to infrastructure in the energy sector at the local level, the bank has stated.