BRUSSELS – European Enlargement Commissioner, Oliver Varhelyi, announced on Thursday that the EU leaders reached an agreement that includes funding for the Growth Plan for the Western Balkans.
According to the previously published draft conclusions of the European Council, the agreement on the revision of the EU’s multiannual financial framework for the period 2021-2027 includes assistance for the Western Balkans.
“As proposed, we will provide predictable financing to Ukraine, we will provide the financing for the Western Balkans Growth Plan, we will provide additional financing for the external border protection”, wrote Varhelyi on X.
President of the European Commission, Ursula von der Leyen, said that the EU reaffirmed its commitment to supporting our partners in the Western Balkans, with the Growth Plan, – and in the southern neighborhood.
The European Commission adopted the new Growth Plan for the Western Balkans in November, with the stated intention to bring some of the benefits of membership to the region in advance of accession, boosting economic growth and accelerating socio-economic convergence.
The European Commission has built the Growth Plan for the Western Balkans around four key pillars. The first pillar focuses on enhancing economic integration with the European Union’s single market, while the second pillar seeks to boost economic integration within the Western Balkans through the Common Regional Market. The third pillar aims to accelerate fundamental reforms, while the fourth pillar aims to provide increased financial assistance to support these reforms through a Reform and Growth Facility for the Western Balkans. The European Commission plans to implement these measures between 2024 and 2027.
Under this growth plan, each Western Balkan partner will be invited to prepare a Reform Agenda based on existing recommendations, including the annual Enlargement Package and the conclusions of the Economic and Financial Dialogue based on the countries’ Economic Reform Programmes (ERP). The Agenda will be consulted with, assessed and adopted by the Commission.
The Reform Agenda will identify a limited set of priority reforms, broken down into qualitative and quantitative steps which will serve as payment conditions. Upon achievement, they will trigger the release of funds under the new Reform and Growth Facility according to a pre-determined timeline.
Read more: EU Growth Plan for the Western Balkans: Release of new funds upon implementation of Reform Agenda