The Presidency of the European Council and the European Parliament reached an agreement on the EU Growth Plan of 6 billion Euros for the Western Balkans.

The Ambassador of the Delegation of the European Union in Tirana, Silvio Gonzato, considered this very good news for the Western Balkan region.

“This package is a great incentive for Albania’s membership in the European Union. More new opportunities for Albanian citizens and those of other countries of the Western Balkans before membership,” he said.

The Presidency of the Council and the European Parliament reached an interim agreement on facilitating the reforms and growth for the Western Balkans. The package is the centerpiece of the Growth Plan for the Western Balkans presented by the Commission in November 2023.

It will cover the period from 2024 to 2027 and is expected to offer up to 2 billion Euro in grants and 4 billion Euro in loans to EU partners in the Western Balkans.

Also, this package will complement the existing Instrument for Pre-Accession Assistance (IPA III), significantly increasing financial assistance to partners in the region.

The package will also support EU partners in the Western Balkans in undertaking EU-related reforms and stimulate their economic convergence with the EU, based on ambitious reform agendas.

It will also promote the alignment of partners with EU values, laws, rules, standards, policies and practices in view of the future EU membership.

The interim agreement will now have to be passed at the Council of Europe and the Parliament, to be formally approved by both institutions after the legal-linguistic review.

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