BRUSSELS – The European Commissioner for Enlargement, Marta Kos, has warned the six Western Balkan countries that they risk collectively losing more than 700 million euros from the EU Growth Plan by mid-year due to a failure to implement reforms, Radio Free Europe (RFE) has learned. According to unofficial information
EWB
BRUSSELS – The European Commissioner for Enlargement, Marta Kos, has warned the six Western Balkan countries that they risk collectively losing more than 700 million euros from the EU Growth Plan by mid-year due to a failure to implement reforms, Radio Free Europe (RFE) has learned.
According to unofficial information published by RFE, Kos sent the letter to all regional capitals on 17 September, in which she urged all parties to accelerate reforms in order to fully utilize the potential of this financial package.
So far, the first tranche or multiple tranches of funding under the Growth Plan have been disbursed to five countries in the region, with the exception of Bosnia and Herzegovina, which has been delayed in adopting its reform agenda.
The end of June this year marks the point at which each country enters a so-called permanent loss phase if it fails to implement the previously agreed reforms.
According to sources in Brussels, the potential losses by country, should all reforms remain unimplemented, are as follows: Albania €67.7 million; Bosnia and Herzegovina €373.9 million; Montenegro €15.1 million; Kosovo €68.8 million; North Macedonia €49.2 million; Serbia between €108.7 and €135.9 million
Based on the maximum amounts, the total potential loss amounts to €710.6 million, or 11.84% of the overall financing under the Growth Plan.
The Growth Plan is the European Union’s most ambitious package for the region, worth €6 billion. Among other objectives, it aims to double the economies of these countries over the next ten years.
