EU offers Western Balkan states USD 6.52 bln to finance development plans

BRUSSELS, April 4 (KUNA) -- The European Union agreed on Thursday to allocate six billion euros (USD 6.52 billion) to finance reform and growth plans in the Western Balkan countries.
The European Commission said in a statement that the measure constitutes an unprecedented offer to the Western Balkan countries (Albania, Bosnia and Herzegovina, Kosovo, North Macedonia, Montenegro, and Serbia) to obtain some of the benefits of European Union membership before officially joining it.
The European Commission had proposed the finance plan last November.
"Enlargement is a major priority and strategy for the European Union," European Commission President Ursua von der Leyen said, expressing her hope that the Western Balkan countries will join more quickly.
She points out that the Facility's overall amount for 2024-2027 is six billion euros. This amount comprises two billion euros in grants and four billion euros in highly concessional loans.
Funds will be released twice a year, based on requests by the Western Balkan partners and following verification by the Commission and, where appropriate, the EEAS, that all relevant conditions have been met.
Leyen counted that the measure "represents a major step in this direction as it combines financial assistance with reforms and will accelerate the progress of our partners in the Western Balkans on the EU pre-accession path, strengthen their economic convergence, and better integrate them into our single market." (end) hts.ams.ara