Future disbursements under the Facility will be made upon completion of the reform steps agreed between the Commission and the Albanian Government in the Reform Agenda. As Albania progresses in implementing the Reform Agenda, the EU will unblock disbursements.
Albania has officially cleared the way for the release of a €64.5 million pre-financing fund from the European Union’s Growth Plan. This first payment, which supports the country’s reforms and infrastructure, comes under the Union’s Growth Plan for the Western Balkans, and aims to accelerate the Region’s socio-economic convergence with the EU and pave the way for EU membership. With this pre-financing, Albania received €30 million in concessional loans for the state budget, to support the implementation of reforms within the framework of the country’s Reform Agenda. In addition, the remaining pre-financing of €34.5 million, in grants and concessional loans, will be injected directly into the WBIF (Western Balkans Investment Framework) for infrastructure investments in Albania.
As previously announced, the payments go mainly to the implementation of reforms, but they do not stop there. Parts of the funds can also be used in the field of infrastructure, for Regional connectivity. While, parts, also in various development programs of the country.
Regarding this achievement, the European Union Ambassador to Albania, Silvio Gonzato, also spoke. “The European Union stands by Albania on its path towards EU membership. The Growth Plan helps Albania to achieve this goal and to bring the Albanian economy closer to that of the European Union before Albania becomes a member. We are supporting Albania to consolidate its rule of law, develop its infrastructure, its green economy, its human capital and its private business. Europe is here to support Albania’s sustainable growth and social cohesion.”
“We appreciate this as a clear sign of confidence from the EU in Albania’s reform path and sustainable progress towards membership in the European family. We fully embrace the magnitude of this historic opportunity, as well as the commitments ahead, and are energetically motivated and prepared to continue reforming and diligently fulfilling the criteria for Albania’s membership in the European Union,” said Chief Negotiator Majlinda Dhuka.
Until 2027, Albania has the opportunity to receive up to €922.1 million in total from the Western Balkans Reform and Growth Fund, in exchange for reforms in the rule of law and fundamental rights, renewable energy, the digital economy, human capital and private sector development. Future disbursements under the Facility will be made upon completion of the reform steps agreed between the Commission and the Albanian Government in the Reform Agenda. As Albania progresses in implementing the Reform Agenda, the EU will unblock the disbursements.
The Western Balkans Growth Plan provides a roadmap to bring the economies of the Western Balkans closer to the European Union. It also facilitates gradual access to the single market, allowing citizens in the Western Balkans to reap some early benefits from EU integration, and supports further Regional economic integration. The Growth Plan provides €6 billion in additional financial assistance to support socio-economic and fundamental reforms and related investments. Disbursements are conditional on the achievement of reforms set out in the Reform Agendas prepared by each beneficiary.
