October 1 (SeeNews) - The European Union (EU) plans to provide fresh 600 million euro ($705 million) financing under its Economic and Investment Plan for the Western Balkans by the end of 2021, EU Commission president Ursula von der Leyen said.
"This year, the plan has already made available 500 million euro. And I am happy to announce that, because the project is progressing so well, we are able to put another 600 million euro on the table, still for this year," Von der Leyen said in a statement on the occasion of her official visit to Serbia on Thursday.
A total of 9 billion euro was made available for funding under the plan, but 20 billion euro more could be leveraged through investments, the head of the EU's executive said.
"Let me stress that I am a strong advocate for bringing Serbia into the European Union. And in that context, I welcome that Serbia places a strong focus on fundamental reforms," she said.
The EU adopted the Economic and Investment Plan for the Western Balkans in October 2020 to support the economic recovery of the region and its convergence with the EU via sustainable connectivity, human capital, competitiveness and inclusive growth, and the twin green and digital transition.
($ = 0.85112 euro)