EIB Global invests record 1.2 bln euro in W. Balkans in 2023

Last year's investment, which was up by 365 million euro compared to 2022, went to sustainable and energy transition projects that support the region’s European Union accession, economic, climate and connectivity efforts, EIB Global said in a statement.

"The funds support projects under the Economic and Investment Plan and the Global Gateway initiative, strategic EU instruments to bridge the existing infrastructural gaps and improve living standards. In close cooperation with the European Commission, we are pleased to provide an impressive 475 million euro in grants under the Western Balkans Investment Framework and the EIB’s Economic Resilience Initiative," EIB vice-president responsible for the region, Kyriacos Kakouris, said in the statement.

Most of last year's funding (58%, or 693 million euro) went to support safer, sustainable transportation, including railway lines in Serbia (Belgrade-Nis) and North Macedonia (Kriva Palanka-Bulgarian border). The EIB also provided additional funding for the modernisation of urban transport in the Bosnian capital Sarajevo and a road rehabilitation and safety project in Serbia.

A further 23% of total financing, or 275 million euro, was devoted to small and medium businesses (SMEs) in the Western Balkans, while the remaining funds were intended to go to energy, water, healthcare and education projects.

In addition to financing, the EIB also provided technical advisory support to prepare and implement a water distribution project in Albania's Tirana, as well as a climate action credit line for SMEs in North Macedonia. Under the EU-financed JASPERS programme, the available technical advisory capacity for the Western Balkans is expected to triple to 20 million euro available for the next six years.

In 2023, more than 60% of the signed projects will contribute directly to climate action and environmental sustainability in the Western Balkans region, the EIB Global noted.

Since 2010, the EIB has invested over 10 billion euro in the region to help local economies develop sustainably.

($ = 0.930 euro)