The European Commission celebrates a pivotal political accord on the €6 billion Reform and Growth Facility, set to significantly advance the Western Balkans' EU integration.
The Facility, operational for 2024-2027, comprises €2 billion in grants and €4 billion in concessional loans, supporting infrastructure investments and connectivity, including transport, energy, green and digital transitions. It underscores the EU's commitment to accelerating the Western Balkans' path to membership by providing substantial financial assistance and fostering economic convergence with the EU's Single Market. The Facility is complementary to EU assistance already provided through the Instrument for Pre-accession Assistance (IPA).
Funds will be distributed based on stringent compliance with reform agendas and conditions ensuring macro-financial stability and effective public financial management. This ensures that the financial support is aligned with significant socio-economic improvements in the region.
The European Union plans to finance the loans by raising €4 billion on the financial market, with grants funded through the Mid-Term revision of the Multiannual Financial Framework (MFF). The agreement now awaits formal ratification, heralding a new era of EU-Western Balkans relations upon its implementation.
For organizations in the Western Balkans looking to leverage funding opportunities, Tiko Pro stands ready to offer its expert advisory services. With our deep understanding of EU funding mechanisms and extensive experience in guiding successful applications, Tiko Pro is your ideal partner to navigate this complex landscape. We specialize in identifying optimal funding avenues and crafting compelling applications, ensuring your projects not only secure funding but also contribute meaningfully to the region's EU journey. Write us to info@tiko-pro.eu for further information and consultation services.
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