REG/ EC AND FINANCIAL INSTITUTIONS AGREED TO INTENSIFY THEIR COOPERATION FOR INNOVATIVE INFRASTRUCTURE SOLUTIONS IN THE WESTERN BALKANS

www.europa.eu European and International Financial Institutions have agreed to intensify their cooperation on key infrastructure investment in the Western Balkan countries and to jointly develop innovative financial instruments which pool public and private funds. The European Commission announced in this context its intention to use up to €1 billion from the new Instrument for Pre-Accession Assistance to secure funding in this area for the 2014-2020 programming period. Combined with funds from the Financial Institutions, the EU funds aim to attract private capital that could finance at least €10 billion of investment in the Western Balkans, targeting key priorities of the beneficiary countries including infrastructure and economic development. Countries in the Western Balkans will be able to access this funding mechanism, as well as sector budget support and competence-building through the transfer of knowledge, by improving their economic governance systems and making the best possible use of their national budgets. The Commission will cooperate with the IMF to support this effort.

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