October 31 (SeeNews) - The European Union plans to provide a 6 billion euro ($6.4 billion) financial package to help the Western Balkans countries complete the necessary reforms for their integration into the block, European Commission president Ursula von der Leyen said.
The proposed financial package is part of a new growth plan for the Western Balkans which ensures access to the EU's single market in key sectors, von der Leyen told a press conference during her official visit in Skopje on Monday.
The plan foresees implementing various reforms and encourages countries to establish a shared regional market. The creation of this common regional market is projected to boost the region's GDP by 10%, von der Leyen said.
"All these are reforms to be done to have a level playing field, between the European Single Market and the Western Balkan Common Regional Market," the Commission president added.
North Macedonia, Montenegro, Serbia, Albania, and Bosnia and Herzegovina are officially recognised as EU membership candidates. Kosovo submitted its EU application in December 2022.
($ = 0.937959 euro)