European Union (Shutterstock)
On Feb. 25, the European Commission presented an investment package of EUR3.2bn for supporting 21 interconnection projects in the sectors of transport, digital technology, climate and energy in the West Balkans.
This is the first package of projects in the European Union's ambitious Economic and Investment Plan for the Western Balkans, adopted by the EC in October 2020, the EC said, adding that the projects would bring tangible benefits to all six partners in the region. The package includes EUR1.1bn in EU grants from the 2021-2027 Instruments of Pre-Accession Assistance (IPA III), additional bilateral contributions from EU members and Norway, and favorable loans from international financial institutions.
The announced package will be directed through the Western Balkan Investment Framework, the EC said. Plans for the sector of sustainable transport include the construction of important road and rail connections in the region, including the Mediterranean, East-West and Rhine-Danube corridors, along with the railway corridor from Skopje to the Bulgarian border.
The EC stressed that these projects would contribute to regional trade, reduced travel times and boost sustainable economic growth, while also bringing major benefits to locals and companies in the region.
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