Montenegro hopes for 500 mln euro from EU's W. Balkans growth plan

"The news of reaching a political agreement on the EU's growth plan is wonderful! This means that some half a billion euro will be soon made available to our country and via 90+ reforms will become de facto a member of the single market of the European Union," Spajic said in a statement late on Thursday.

The financial package will comprise some 2 billion euro in grants and 4 billion euro in loans, covering the period 2024-2027, aimed at supporting the Western Balkans' EU-related reforms and fostering the region's economic alignment with the EU. The plan is yet to be formally adopted by the European Parliament and the Council.

In November, the European Commission adopted the growth plan for the Western Balkans focusing on four pillars: enhancing economic integration with the EU's single market, fostering regional economic cooperation, expediting fundamental reforms, and providing financial support through the proposed facility.

The countries of the Western Balkans - North Macedonia, Montenegro, Serbia, Albania, and Bosnia and Herzegovina - are officially recognised as EU membership candidates. Kosovo submitted its EU membership application in December 2022.

($ = 0.921 euro)