European Parliament approves the most ambitious development plan for WB so far

The European Parliament (EP) has adopted the Growth Plan for the Western Balkans, the most ambitious financial package ever offered by the European Union (EU), totaling 6 billion euros.

It was supported by 517 MEPs, 56 voted against it and there were 30 abstentions, reported Radio Free Europe.

The vote was held just a day before the dissolution of the European Parliament ahead of the European elections due in June.

According to the text agreed upon by the European Council and the European Parliament, Western Balkans states will need to meet a set of criteria to utilize the financial assistance package from 2024 to 2027.

These criteria include requirements applicable to all countries, such as the rule of law, respect for democratic principles, institutional reforms, and necessary measures to ensure that the funds are not misused.

Furthermore, there are also certain political criteria that have to be met, as well as an “additional condition” for Kosovo and Serbia related to progress in the normalization of their relations.

The Growth Plan, proposed by the European Commission, aims to double the size of the Western Balkan economies within the next 10 years. The EU’s objective is to stimulate economic growth in the six countries of the region while at the same time aiding the reform process, thereby accelerating the preparation of the region’s countries for EU accession.

Out of the total of 6 billion euros, 2 billion are grants and 4 billion concessional loans.

(Danas, 24.04.2024)

https://www.danas.rs/svet/region/ep-plan-rasta-zapadni-balkan/

 

This post is also available in: Italiano

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