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The European Investment Bank, 1.2 billion euros for the Western Balkans, 6 billion euros of investments in the region are expected

2024-02-10 12:51:54Biznes SHKRUAR NGA REDAKSIA VOX

The European Investment Bank, 1.2 billion euros for the Western Balkans, 6

The European Investment Bank has invested a record 1.2 billion euros in the Western Balkans in 2023. 365 million euros more than in 2022. Most of them have gone to projects in transport, energy and small businesses. secondary, while in Albania the Bank offered support for the preparation and implementation of a water distribution project in Tirana

The European Investment Bank has invested a record €1.2 billion in the Western Balkans in 2023, which aims to mobilize over €6 billion in new investments in the region. The figures were made public through an official statement by EIB Global, the financial arm of the European Investment Bank (EIB) for activities outside the EU. In the statement, the Bank notes that the volume of investments was 365 million euros more than in 2022. Investments went to sustainable and energy transition projects that support the region's EU membership efforts, as well as economic, climate and connectivity efforts .

Funding will contribute to connectivity, energy transition and the growth of small and medium-sized enterprises, in line with EU priorities. Specifically for Albania, the Bank provided technical advisory support for the preparation and implementation of a water distribution project in Tirana.

Meanwhile, most of the new funds (58%, or 693 million euros) have been allocated for safer and more sustainable transport, namely for railway lines in Serbia (Belgrade-Nish) and North Macedonia (Kriva-Palanka- border with Bulgaria). The EU Bank signed additional funds for the modernization of urban transport in Sarajevo and a project for the rehabilitation and safety of roads in Serbia. EUR 275 million (23% of total funding in 2023) was dedicated to supporting small and medium-sized businesses (SMEs) in the Western Balkans. The remaining funds will go to energy, water, health and education projects.

On the other hand, the European Investment Fund (EIF), part of the EIB Group, started the implementation of the instrument of a guarantee for the sustainability of small and medium-sized enterprises, which is expected to unlock about 700 million euros for these companies in the region . Since 2010, the EIB has invested over €10 billion in the region to help local economies develop sustainably.


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