The European Council approves the establishment "Repair and growth facility " For the Western Balkans
Brussels, 7 May / WAM / The European Council in Brussels approved the establishment of the “Reform and Growth Facility for the Western Balkans”, which is a new tool to support reforms related to ties with the European Union and economic growth in the region.
This facility, as the Council announced today, will serve as the financial pillar of the growth plan for the Western Balkans. It covers the period from 2024 to 2027 and is expected to provide up to two billion euros in grants and 4 billion euros in loans to the six European Union partners in the Western Balkans during the period. coming years.
The facility aims to support the alignment of Western Balkan partners with the EU values, laws, rules, standards, policies and practices with a view to future membership of the Union, as well as their gradual integration into the Union’s single market and social and economic rapprochement with its countries.
This facility would support a range of social, economic and basic reforms, including reforms related to the rule of law and fundamental rights. In order to receive support under the facility, each partner in the region must prepare a reform agenda, setting out the reforms it plans to undertake in order to Achieving the facility’s objectives.
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