The European Commission introduced the Instrument for Reforms and Growth for the Western Balkans last year, covering the period from 2024 to 2027, comprising two billion euros in grants and four billion in favourable loans.
Five months later, a political agreement was reached by European institutions on the instrument, which should provide additional incentive for the Western Balkan countries on their journey towards the Union.
Funds will be disbursed only after the implementation of reforms.
“The six billion euro growth plan for all six countries is a real political boost towards the enlargement process and the acceleration of structural and institutional reforms, including alignment with the EU’s common foreign and security policy, as well as visa policy. Following the historic opening of accession negotiations with Bosnia and Herzegovina, this is another important tool that will bring the Western Balkan countries closer to the European Union,” was announced in Brussels.
President of the European Parliament, Roberta Metsola, stated on the platform X that enlargement is the EU’s strongest geopolitical tool.
“We are investing six billion euros in reforms and gradual integration into the single market ahead of EU accession,” Metsola announced.