EIB Global, the financial arm of the European Investment Bank (EIB), provided €693 million in loans and grants to the countries of the Western Balkans in 2024, supporting key sectors such as energy security, sustainable transport, climate action, digitalisation, and human capital development. The total investment includes €527 million in loans, €164 million in EU grants under the Western Balkans Investment Framework (WBIF), and €2 million in grants from the EIB’s Economic Resilience Initiative.
The largest portion of funding was allocated to sustainable transport projects, accounting for 43 percent of the total. This was followed by clean energy initiatives at 31 percent, marking a record-high investment in the sector, and private sector support at 20 percent.
EIB Vice-President Robert de Groot emphasised the bank’s commitment to the region’s EU integration process, stating that achieving higher convergence requires significant reforms and investments. He highlighted that through a combination of financial and technical support under the Team Europe framework, the EIB is ensuring a comprehensive and sustained effort to accelerate market integration, economic growth, and EU accession ambitions.
EIB Global significantly increased its funding for renewable energy and energy efficiency projects, signing €213 million in loans for key initiatives. These include the rehabilitation of large hydropower plants, the installation of advanced electricity meters in Serbia, and the construction of a major solar photovoltaic plant near Pristina, Kosovo*. The solar plant is expected to power over 29,000 households and reduce carbon dioxide emissions by 174,000 tonnes annually.
Vice-President De Groot reaffirmed the bank’s focus on sustainability, stating that as the EU Climate Bank, the EIB is committed to supporting the green transition across the region, ensuring energy security, and reducing environmental pollution through decarbonisation.
Additionally, the EIB launched the Greening Financial Systems (GFS) advisory programme in North Macedonia and Albania to strengthen local banks’ climate risk management and stimulate green investments. Several projects also received technical assistance under the WBIF and JASPERS advisory programmes, with JASPERS experts currently working on 32 advisory assignments across sectors such as transport, water, energy, urban development, and digital infrastructure.
In 2024, EIB Global maintained its strong support for transport infrastructure, providing €295 million in financing for projects aimed at improving regional connectivity. These investments include the rehabilitation of railway sections in Albania and Montenegro, enhancing efficiency, safety, and capacity along the Trans-European Transport Network (TEN-T), thereby encouraging a shift from road to sustainable rail transport.
Furthermore, the bank allocated a €79 million EU grant for the construction of a crucial section of Corridor Vc in Bosnia and Herzegovina, a key transport route expected to facilitate trade and economic growth in the region.
The EIB also provided €151 million in financing to help regional companies expand, innovate, and invest in clean energy solutions, driving job creation and economic development. One of the key achievements was the launch of the first impact-based credit line, which helped small businesses create new jobs, training, and career development opportunities for vulnerable groups.
Additionally, under the EU’s WB EDIF Guarantee Facility for SME Resilience, the European Investment Fund (EIF), part of the EIB Group, provided guarantees to local banks, expected to unlock over €750 million in loans for around 13,000 small businesses, ultimately sustaining 180,000 jobs across the Western Balkans.
Through these investments, EIB Global has reinforced its role as a key partner in the economic and environmental transformation of the Western Balkans. By prioritising clean energy, sustainable mobility, and private sector growth, the bank is helping the region strengthen its resilience, improve competitiveness, and accelerate its path toward EU integration.
