Team Europe Assists the Western Balkans
The health sector, as well as small and medium-sized enterprises in Serbia and other countries in the Western Balkans, will receive European Union’s assistance to the tune of €3.3 billion, €1.7 billion of which will be secured by the European Investment Bank. The assistance package will be aimed at post-COVID-19 economic recovery of the region, the European Commission announced in early April.
“During the COVID-19 pandemic, we treated the Western Balkans as a privileged partner and a prospective EU Member. Together with the European Investment Bank, we will deliver a substantial financial package, in order to meet urgent needs and support the economic recovery”, said European Commissioner for Neighbourhood and Enlargement Oliver Varhelyi.
Also, the European Investment Bank (EIB) will secure additional funding and speed up the process of signing and disbursing of approved loans for clients in both private and public sector in the Western Balkans, with around €600 million aimed at the private sector. “The European Investment Bank is happy to contribute to the Western Balkans Investment Framework and the upcoming economic and investment recovery plan”, Werner Hoyer, the President of EIB, noted.
Apart from urgent assistance to the Western Balkans, the EIB is financing projects worth around €2.3 billion, aimed at ensuring a long-term, sustainable development of the region.
In the period 2008-2019, the region has benefitted from €8 billion in investment, making the EIB Group the largest international creditor in the Western Balkans.
Health
The health sector in the Western Balkans, i.e. the modernisation and upgrade thereof, are among EIB’s priorities, which is why there is a steady flow of investment, building up on previous funding rounds, many of which were implemented thanks to EU grants.
This includes €200 million invested in modernisation, management, and upgrade of clinical centres in Belgrade, Nis, Novi Sad, and Kragujevac. The same amount of money—€200 million—was invested in research and development in our country. For comparison, Bosnia and Herzegovina has received €115 million from EIB for various projects in the health sector.
Support for small and medium-sized enterprises
Small and medium-sized enterprises were faced with significant challenges during the coronavirus pandemic, and the European Investment Bank will support them by offering loans, guarantees, and advisory services. This assistance will be partially secured through the Western Balkans Enterprise Development & Innovation Facility (WB EDIF), supported by the European Union.
Learn more about EU solidarity and investment in the Serbian health sector during the COVID-19 pandemic here. More information about previous investment can be found here.
In line with EU policy and national priorities, the EIB will support projects enabling the region’s transition to environmentally friendly energy generation, digitalisation, better connectivity, job creation and youth employment, environmental protection and resilience to natural disasters while promoting regional cooperation and economic integration.