(...) What does the Growth Plan consist of?
The new Growth Plan for the Western Balkans is based on four pillars, aimed at:
- Enhancing economic integration with the European Union's single market, subject to the Western Balkans aligning with single market rules and opening the relevant sectors and areas to all their neighbours at the same time, in line with the Common Regional Market.
- Boosting economic integration within the Western Balkans through the Common Regional Market, based on EU rules and standards.
- Accelerating fundamental reforms, including on the fundamentals cluster, supporting the Western Balkans' path towards EU membership, improving sustainable economic growth including through attracting foreign investments and strengthening regional stability.
- Increasing financial assistance to support the reforms through a Reform and Growth Facility for the Western Balkans for the period 2024-2027,
a new financing instrument worth €6 billion in non-repayable support
and loan support, with payment conditioned on the Western Balkans'
partners fulfilling fundamental reforms, and in particular specific
socio-economic reforms. In its proposal of the mid-term revision of the
current Multiannual Financial Framework, the Commission proposed an
additional €2 billion for the Western Balkans. A further €4 billion
would be provided in the form of concessional loans under the new
Facility. (...) 👉LINK
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