The EIB Group has increased funding for the Western Balkans in 2020
The European Investment Bank (EIB) invested €873 million in the Western Balkans in 2020, increasing its financing in the region by 50% compared to 2019. It provided extensive support to the recovery from COVID-19 under European Union’s Team Europe initiative to help the most affected sectors.
EIB Vice-President Lilyana Pavlova, who is responsible for the Western Balkans, said: “I am delighted that the EIB Group has almost doubled its investment volume for the Western Balkans in one of the most challenging years in recent history. However, we will not stop there, but will continue to provide our full support to help the region overcome the COVID-19 crisis, advance with EU integration and accelerate the much needed economic transformation into a green and digital market. We are particularly proud of the EIB’s first impact finance loan that will boost youth employment and women’s entrepreneurship, while triggering investment in the digitalisation of the private and public sector.”
In 2021, the Bank plans to deliver more support for climate action, the recovery of SMEs, connectivity, the digital transformation and projects encouraging inclusive employment. All of these initiatives are part of the European Commission’s Economic and Investment Plan for the Western Balkans. The EIB Group looks forward to working with all of its partners on implementing this major plan that aims to mobilise up to €9 billion for inclusive growth, sustainable transport, the digital and green transformation and the creation of a common regional market, with €20 billion in investment also expected to be leveraged by the Western Balkan Guarantee Facility.
Secretary General Bratislav Pejakovic participated in the Videoconference.