EU Commission to adopt investment plan for W. Balkans on Oct 6 - Varhelyi

"Our plan will aim to strengthen Trans-European transport and energy links, and upgrade infrastructure crucial for economic development. We will address the challenges of both the green and the digital transition," Varhelyi said in a statement.

The priority will be to identify flagships that foster regional connectivity and convergence towards the EU and can be completed or substantially advanced by 2024, Varhelyi told a media conference on EU enlargement organised by the European Commission representation in Zagreb. 

"The Economic and Investment Plan will aim to bring the region closer to the EU and foster regional cooperation to create much-needed jobs to the benefit of businesses and citizens alike," Varhelyi said.

The implementation of the plan will be financed by a combination of EU grants and loans from international financial institutions, including the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), Serbia's EU integration ministry said in a separate statement on Thursday.

The plan was to be announced at the EU-Western Balkans Leaders' Summit on May 6 but was the postponed to the autumn due to disputes on the EU's multiannual financial framework, the ministry added.

In April, the Commission announced a 3.3 billion euro ($3.9 billion) financial support package for the Western Balkans aimed at addressing the region's immediate health needs arising from the coronavirus pandemic and helping with its social and economic recovery.

($ = 0.853094 euro)