Fri, Feb 10 2012

Billion euro for new Western Balkans Investment Framework

Thu, Oct 22 2009 10:02 CET

byClive Leviev-Sawyer

3854 Views 1 Comment
Billion euro for new Western Balkans Investment Framework

The European Commission and European financial institutions have agreed to set up a Western Balkans Investment Framework (WBIF) that will provide a joint grant facility and lending facility for priority projects in the region, with a commitment for a billion euro in loans already in place.
 
The bodies involved are the EC, the European Investment Bank, the European Bank for Reconstruction and Development and the Council of Europe Development Bank.
 
Countries where "priority projects" will be eligible for financing are Albania, Bosnia and Herzegovina, Croatia, Macedonia, Kosovo – in terms of UN Security Council resolution 1244, Montenegro and Serbia.
 
"The objective is to pool and coordinate different sources of finance and leverage loans with grants for projects representing a priority for the Western Balkan beneficiaries," the EC said.
 
The initial focus on infrastructure sectors, including social infrastructure, will be expanded to include support to SMEs, energy efficiency and other investment sectors
 
The European Commission has so far allocated about 110 million euro to support the financing of municipal infrastructure projects and technical assistance projects.
 
This funding is now part of the Joint Grant Facility.
 
The EIB, EBRD and CEB have each pledged 10 million euro for technical assistance or other grant support, in accordance with their respective internal procedures.
 
"EU member states and other donors are invited to make grant contributions via a European Western Balkans Joint Fund co-managed by the EIB and EBRD," the EC said.
 
For projects to get loan financing, "good preparation and a strong implementation framework are essential," the Commission said.
 
Project selection will ensure consistency with the countries’ needs and will support EU accession priorities, according to the EC.
 
A joint lending facility will work in conjunction with the grant facility. The EIB, the bank of the European Union, and EBRD have committed themselves to making available a billion euro in loans. Likewise, CEB is set to enhance its lending to the region for social projects.
 
The WBIF agreement will be signed in the coming weeks.

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Comments

Anonymous hassan elyousfi Mon, Feb 21 2011 20:11 CET
Report Comment

alove money sow match i'wont to give me 1 billion euro please


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