Region, EC will provide 3.2 billion euros in funding to back 21 transport, digital, climate and energy connectivity projects

, SEE Energy News

The European Commission (EC) said it will provide 3.2 billion euros in funding to back 21 transport, digital, climate and energy connectivity projects in the six Western Balkans countries. The implementation of the projects should start by the end of 2023.

The financial package includes 1.1 billion euro in EU grants from the Instrument for Pre-Accession Assistance 2021-2027 (IPA III), additional bilateral contributions from EU Member States and Norway, and favorable loans from international financing institutions.

The financial package targets projects for the construction of solar power plants and wastewater treatment plants and the Trans-Balkan electricity transmission corridor.

The funding will be disbursed through the Western Balkans Investment Framework (WBIF), an EU-led multi-donor investment platform.

The investment package is part of EU’s Economic and Investment Plan for the Western Balkans, which the Commission adopted in October 2020. Over the following years, the Economic and Investment Plan is set to mobilize up to 30 billion euros of investments as a combination of grants, preferential loans and guarantees.