EU "releases" first funds for Albania: 922 million euros from the Economic Growth Plan until 2027. Payments, 2 times a year
Albania is the second country to benefit from the first financing from the Economic Growth Plan. After the successful preparation of the Reform Agenda, North Macedonia was the first country to receive the pre-financing foreseen in the EU Growth Plan for the Western Balkans.
By 2027, Albania is expected to receive 922 million euros from the Economic Growth Plan. According to the initial plan, for 2024, our country was expected to receive 76 million euros in loans and grants from the European Union, while this year the funding was estimated at 279 million euros. In 2026, Albania will receive the highest amount in loans and grants, specifically 314 million euros, while in 2027, only 251 million euros.
The Economic Growth Plan, which was approved in April 2024, included the preparation of a national reform agenda as a precondition for receiving funding. The release of any funds will depend on progress in implementing the measures included in the Reform Agendas.
But which sectors will be supported with the most funding?
Most of the funds will go to justice reforms, followed by improving the business climate, strengthening human capital, energy and green transition, and technology development.
In total, the Western Balkan countries will benefit from 6 billion euros from this package, while Serbia and Bosnia and Herzegovina are the 2 countries that will receive the most loans and grants. Specifically, the Serbian state will benefit from 1.58 billion euros, Bosnia and Herzegovina 969 million, Kosovo almost 888 million euros, while North Macedonia and Montenegro will be given approximately 807 million and 383.5 million euros.
At least 50% of the total amount (grants and loans) will go to investments through the Western Balkans Investment Framework (WBIF), while the remaining amount of loans will be distributed directly to the Western Balkan governments.
Payments will be made twice a year, based on requests submitted by the Western Balkan countries and after verification by the European Commission of the fulfillment of relevant payment conditions, preconditions and general conditions, such as macro-financial stability, sound management of public finances, transparency and budgetary oversight.
If the payment conditions are not met, the European Commission will suspend or deduct an appropriate amount from the payment. The Western Balkan country will have 1-2 years to meet the conditions, otherwise the amount will be redistributed among the others in the following years.
Poll
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