Six billion euros to accelerate growth in the Balkan countries

The leaders of Western Balkan countries, candidates for the European Union, agreed on Thursday to accelerate their regional cooperation efforts to better exploit a new financial aid plan from the European Union which will help them accelerate their accession.

Brussels plan calls for 6 billion euros to be sent to Balkan states over the next three years with the aim of doubling the region’s economic potential over the next decade and accelerating their efforts to join the bloc.

This aid is, however, conditional on reforms that would bring their economies into compliance with EU rules.

Balkan leaders have welcomed the plan, but the reform agenda poses a challenge to implement.

The six countries of the region – Albania, Bosnia, Kosovo, Montenegro, North Macedonia and Serbia – are at different stages in their application to join, but residents are frustrated by the slow process.

Croatia was the last EU member country to be accepted in 2013.

EU Enlargement Commissioner Oliver Varhelyi said the European Commission aims to halve the implementation time of the new plan “ambitious”.

Speaking at a press conference, the Hungarian commissioner said the Western Balkan countries had agreed to take concrete steps this year, such as the unification of financial regulations.

The Albanian Prime Minister recalled that countries in the region had banking transaction costs six times higher and that the new rules will allow them tosave half a billion euros.

If truck waiting times at regional customs posts – 26 million hours per year for the entire region – were reduced by three hours, Albania would gain up to 3% of its GDP growthaccording to Edi Rama.

Other goals have been set for this year, such as launching research and development hubs for the next generation needed by industries and installing free Wi-Fi in all public places.

“But for this to move forward, we also need the region to move forward, which means it implement the necessary reforms to make this plan work and be functional »did he declare.

Present at Thursday’s meeting were Serbian President Aleksandar Vucic, North Macedonian Prime Minister Talat Xhaferi and Borjana Kristo, head of the Council of Ministers of Bosnia and Herzegovina. Kosovo Prime Minister Albin Kurti planned to send a message online. There was no representative from Montenegro.

Edi Rama also declared that bilateral disputes (between Kosovo and Serbia in particular, editor’s note) should not interfere with the implementation of the growth plan.

“European integration requires regional immigration. There is no discussion, there is no debate (about this)”he said during the press conference.

Serbia did not recognize Kosovo’s independence in 2008, and recent tensions between the two countries have sparked concern among Western powers.

Both have said they want to join the EU, but the bloc has warned that their refusal to compromise jeopardized their chances of membership.