- EIB Vice-President Czerwińska expressed the Bank’s continuing support for the enlargement process and economic convergence of the Western Balkan region.
- EIB Global is set to increase its financial and technical support for renewables, energy efficiency and energy distribution and storage projects, ensuring a just transition.
- In 2023 alone, EIB Global has already signed over €700 million of new investments for sustainable projects in the region.
At the Berlin Process Leaders’ Summit held in Tirana, EIB Vice-President Czerwińska reiterated the Bank’s commitment to greater connectivity, the green and digital transition, and stronger education and healthcare systems. As a key contributor to the EU Economic and Investment Plan for the Western Balkans, EIB Global will support the new Growth Plan for the Western Balkans by ramping up efforts under the Just Transition Initiative to help the region reap opportunities stemming from the energy transition.
EIB Vice-President Teresa Czerwińska stated, “We are as committed as ever to supporting the enlargement process. This support contributes to greater connectivity and a smoother green transition, benefiting fully from the digital agenda and strengthening education and health systems. Since 2009, the EIB has provided nearly €11 billion in public and private sector investment finance in the Western Balkans. We have financed trans-European energy networks and provided inclusive finance for small and medium businesses (SMEs) — investments that link the region physically and economically with the European Union and boost convergence.”
In close cooperation with the European Commission and other partners under the Western Balkans Investment Framework (WBIF), EIB Global is actively pursuing sustainable investments, including the deployment of clean and renewable energy projects in the public sector and among SMEs. The Bank has already signed some €700 million of investments in 2023, including a credit line for €100 million to finance energy efficiency and renewable energy projects by SMEs in North Macedonia. Such projects demonstrate its unwavering determination to boost sustainable growth and improve the investment climate in the region.
“We all agree on the need for better governance, simpler regulations, leveraging the digital transition, enhancing competitiveness by boosting trade and increasing the role of the private sector, and faster deployment of renewable energy. We fully recognise that these recommendations are not easy to implement, but we believe that collectively — including through the Berlin Process — we can use the accession process to boost convergence and expedite the region’s progress to EU membership,” Vice-President Czerwińska added.
Boosting regional connectivity and economic relations is an important element of the convergence process. In 2023, EIB Global financed €120 million in top-up loans to modernise Sarajevo’s urban transport system, and for a road rehabilitation project in Serbia that will make the transportation network safer and more robust and bolster economic growth.
Through EIB Global, the EIB branch for activities outside the European Union, the Bank intends to continue supporting the modernisation of key sustainable connectivity infrastructure throughout the region. This includes expanding the railway network in Albania towards Montenegro, the Corridor VIII in North Macedonia, sections of the Corridor X railway in Serbia, as well as the road Corridor Vc in Bosnia and Herzegovina. As a long-standing partner to the Western Balkans, the EIB has invested close to €11 billion since 2009 for the region’s vital infrastructure, job creation, innovation and SMEs.
Background information
About the EIB and EIB Global
The EIB is the long-term financing institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment to pursue EU policy goals, supporting projects in four priority areas: infrastructure, innovation, climate and environment, and SMEs. EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 — around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions, and civil society. EIB Global brings the EIB Group closer to local people, companies and institutions through our offices around the world.
About the EIB in the Western Balkans
The EIB is one of the leading international financiers in the Western Balkans. Since 2009, the Bank has financed projects in the region totalling close to €11 billion. Visit the Bank’s publications page for detailed information on its activities in the Western Balkans.
About the Berlin Process Summit
The Berlin process was set up in 2014 as a platform for high-level cooperation between high official representatives of the Western Balkan Six (WB6) and their peers in Berlin Process host countries. The Process also involves the EU institutions, international financial institutions and the region’s civil society, youth and businesses. The Berlin Process was initiated to utilize the potential of increased regional cooperation in the Western Balkans. The idea was to foster specific projects in order to increase connectivity in the region, as well as good neighbourly relations and interpersonal relationships, while subsequently supporting the EU integration.