The European Union will allocate 6 billion euros to the Western Balkans. Parliament in Brussels is close to approval, and the likely date of passage of the fund is October 16.
According to the states, Bosnia and Herzegovina will receive 1.85 billion euros, Serbia 1.58 billion, Albania 922 million euros, and then Kosovo, North Macedonia and Montenegro will benefit from the rest of the fund.
Meanwhile, the Growth Plan, which will be developed in two stages, starts with a preliminary financing, where Albanian country will receive 64.5 million euros.
With this package, the EU aims to help the economic growth in the countries of the region and thus speed up the process of their integration in Europe.
In concrete terms, Brussels says the growth plan has the potential to double the size of economies within the next 10 years, while its approach is conceived as a race.
Those countries that present serious projects for investment, and where the anti-corruption performance is better, will attract more money. In case the conditions are not met, the European Commission reduces or takes back the payment.
From the total amount, 2 billion euros will be a gift, while 4 billion euros will be in the form of favorable loans.
