Provisional Deal on Reform and Growth Facility for Western Balkans Reached

The Council of the EU’s presidency and the European Parliament have reached a provisional agreement on setting up a Reform and Growth Facility for the Western Balkans.

The Facility is the centrepiece of the Growth Plan for the Western Balkans presented by the Commission in November 2023.

The Facility will cover the period from 2024 to 2027 and is expected to provide up to 2 billion euros in grants and 4 billion euros in loans to the EU’s Western Balkan partners, including, as media in the country reported, at least 800 million to North Macedonia.

It will complement the existing Instrument for Pre-accession Assistance (IPA III), considerably increasing financial assistance to partners in the region.

“The Facility will support the EU’s Western Balkan partners in undertaking EU-related reforms and stimulate their economic convergence with the EU, based on ambitious Reform Agendas,” it was added, inter alia, in Thursday’s press-release.